RSM Malta

FIAU issues the AML Implementing Procedures – Part II addressed to the Remote Gaming Sector

On the 19th July, the Financial Intelligence Analysis Unit (FIAU) issued specific Implementing Procedures applicable to Remote Gaming Operators (licensees), which addresses the applicability of the risk based approach and the requirement to carry out a Business Risk Assessment. The business risk assessment has to be documented and approved by the Board of Directors (or equivalent) of the licensees, and made available to the FIAU and to the Malta Gaming Authority (MGA) upon request.

The risk areas addressed within the assessment are categorised into the following main areas:

  • Customer risk;
  • Product/service/transaction risk;
  • Interface risk; and
  • Geographical risk.

The Implementing Procedures are demanding that the report includes specific risk scenarios which may arise within each category of risk and procedures in place to mitigate such risks.

RSM is in a position to assist with the preparation and drafting of the report (including a risk register) as per MGA and FIAU guidelines

Should you require assistance, we may schedule a call or follow up to discuss the requirements and the deliverable in further detail.