The Malta Gaming Authority (MGA) has officially renewed its Memorandum of Understanding (MoU) with the Alderney Gambling Control Commission (AGCC), ensuring their partnership will continue through 2024 and beyond. This agreement aligns the values of both authorities and allows them to effectively carry out their responsibilities in regulating the gambling industry.
By collaborating, the MGA and AGCC aim to enhance their efforts in preventing crime, protecting consumers, and safeguarding vulnerable individuals from the risks of gambling addiction. The significance of this partnership is further underscored by the ongoing calls for international cooperation among regulatory bodies, as emphasized by the UK Gambling Commission.
Established in 2000, the AGCC serves as the regulatory body for Alderney, which is a British Crown dependency and an offshore licensing jurisdiction within the Bailiwick of Guernsey. While smaller in comparison to Malta and Curacao, Alderney is striving to expand its presence in the gaming industry.
The CEO of MGA, Carl Brincat, expressed his commitment to maintaining a secure and responsible gaming environment through the renewed MoU with the AGCC. Similarly, Andrew Gellatly, the executive director of AGCC, emphasized the value of the partnership for both regulators and the industry as a whole, highlighting the benefits it brings to players and stakeholders.
However, Gellatly also disclosed that Alderney’s risk profile for money laundering and terrorism financing has been heightened, citing concerns raised by the European Commission. This development underscores the importance of ongoing collaboration between regulatory authorities to address emerging challenges within the gambling sector.