The Malta Business Registry (MBR) has signed a Memorandum of Understanding (MoU) with the Malta Gaming Authority (MGA). The purpose of the MoU is to encourage and facilitate close communication between the two authorities, and to strengthen the exchange of information, and other mechanisms to detect non-compliance and to aid the take-up of measures to ensure adherence to the rules.
The MBR also signed additional MoUs with other Competent Authorities as defined by the Prevention of Money Laundering and Funding of Terrorism Regulations (PMLFTR), including the Malta Financial Services Authority (MFSA) and the Sanctions Monitoring Board (SMB), with the aim of addressing challenges that the financial sectors face.
Notably, the MoUs enhance the relevant authorities’ mutual access to ultimate beneficial ownership information and are a clear signal that the authorities are committed to preventing the misuse of Malta’s legal and/or regulatory frameworks for criminal purposes including money laundering and funding of terrorism
Similar MoUs with other competent authorities are also in the pipeline.