The Malta Gaming Authority has ruled that the online pools betting operator was guilty of several breaches of its rules.

Malta.- The Malta Gaming Authority (MGA) has announced that it has issued a licence cancellation notice to the pools betting operator Totup System. It said the company had committed several breaches of licence conditions.

The MGA took the decision to cancel the company’s licence under regulation 10 (1) (a) of Malta’s Gaming Compliance and Enforcement Regulations, which relates to the payments licensees must make to the regulator. 

It identified breaches of Regulation 3 (1) (b) of the Gaming Licence Fees regulations, finding that Totup failed to pay its licence fees for 2022 and 2023 and now owes €50,000. It also failed to pay compliance contribution fees on time, putting it in breach of Regulation 6 of the Gaming Licence Fees regulations.

The MGA has given Totup 20 days from the date of the cancellation notice to pay the fees owed and show cause in writing to explain why its licence should not be cancelled. If it does not exercise this right, the MGA will proceed to cancel its licence.

Casino Malta fined for AML failings

Last month, the operator of Casino Malta was fined €233,834 for a series of anti-money laundering and counter-terrorist financing failings. The government’s Financial Intelligence Action Unit (FIAU) found the operator lacked sufficient due diligence and inadequate risk assessment procedures.

The agency highlighted the case of a CEO with connections to Turkey who was able to spend €1m at Casino Malta, mostly in cash, without his sources of funds being checked. The money came from eight different bank accounts.

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