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5 February 2013

We can provide you with services in various jurisdictions.

Malta, a full member of the EU, provides a ‘one-stop-shop’ gaming regulatory procedure. The country’s Lotteries and Gaming Authority (LGA) has consolidated its application process, providing gaming operators with a single authority with established licensing routes.

Process

Whether you wish to achieve a full licence or a ‘white label’ operating under another operators’ existing licence, Acumum can help you in obtaining certification.

Pre-application

Before submitting formal documentation, potential operators are advised to enter into talks with the LGA to discuss their business plans and proposed operations. This provides guidance and upon eventual submission of the required documentation — a faster method of approval.

Application

The four main tests applied to every application are:

• Is the applicant fit and proper to conduct a gaming business?
• Does the applicant have sound business plans?
• Does the applicant meet the operational and statutory requirements necessary to conduct the business?
• IT systems audit — has the applicant implemented the necessary compliance standards within its technical operations?

On successfully completing the four requirements, a gaming licence is granted for a period of five years.

Ongoing requirements

At preset milestones after the granting of a gaming licence, a licensed operator is subject to ongoing compliance audits:

• After the first year of operation
• On the third year of operation
• On the implementation of major changes in the gaming system
• At the discretion of the LGA — normally arising from a suspicion of deviation from either the regulations or the operational environment

Key official requirement

Acumum can provide you with, or assist you and your key official in, meeting the requirements of ongoing compliance:

• In guiding you through the regulatory requirements of the decommissioning or installation of hardware, the addition of new games or partners, changes in the stakeholders of your operations or other incidents that may occur within the gaming system or your operations
• In helping you in the preparation of the financial reports that must be submitted to the AML from time to time

Undertaking core compliance and reporting responsibilities, the key official is an essential function in every gaming operation. Acumum can assist you by recommending an pre-authorised key official or, if you wish to nominate such a person within your own operations, can assist that person in achieving key official status.

The importance of the role of a key official cannot be emphasised enough; his or her duties include:

• Sealing of servers — ensuring that the seals are not broken and reporting to the LGA if they are and subsequently resealed
• System review/certification of compliance
• Incident reports — within 24 hours the LGA must be notified of any changes made to either the hardware or software of the gaming company by signing and submitting the incident reports
• Keeping the LGA updated in respect of any changes to be made, to the pre-approved setup of the authorised gaming operations
• Monthly submission of gaming tax and annual gaming licence fee
• Submission of the gaming licensee’s management accounts alongside the annual audit financial statements
• Monthly reports ensuring players’ funds are securely and adequately held by the gaming licensee at all times — both at the control and bank account levels
• Data protection compliance as a data processor
• Submission of national statistics

Anti-money laundering (AML) and know your customer (KYC) requirements

Malta takes its responsibility to and its position within the global prevention of terrorist and criminal activities seriously.

All prospective and licensed gaming holders must comply at all times with appropriate AML and KYC requirements and procedures. The LGA must be provided with all necessary due-diligence documents in respect of its key officials, directors and shareholders.

Acumum can assist you in establishing, documenting and maintaining sufficient and appropriate compliance processes and manuals:

• Role and responsibilities of the key official
• KYC and AML procedures
• Payout management procedure

Schengen — Visa scheme

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