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The Malta Gaming Authority (MGA) has announced the signing of a memorandum of understanding that has seen it further consolidate its long-standing relationship with the island nation’s Financial Intelligence Analysis Unit (FIAU). The watchdog’s Director, Kenneth Farrugia, proclaimed that the improved accord with the MGA will further help the organization to ensure that ‘the highest levels of anti-money laundering and financing of terrorism compliance are applied across the gaming sector’. The deal allows the firm access to Yggdrasil’s comprehensive game development process, the YG platform including its new Game Adaption Tools & Interface (GATI) product, game promotional tools via BOOST, as well as access to YG Masters partners-created content....

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The iGaming regulator used an official Wednesday press release published by European Gaming Media and Events to detail that the fresh alliance is due to see the two entities work to improve their information sharing capabilities so as to better combat money laundering and the financing of terrorism.Close connection:Heathcliff Farrugia, Chief Executive Officer for the MGA, used the press release to declare that he is ‘delighted’ to have signed such an agreement with the FIAU so as to further ensure that the online gaming market in Malta ‘is kept free from crime.In January this year, Yggdrasil introduced its first title that features the new Splitz mechanic....

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Close connection:Heathcliff Farrugia, Chief Executive Officer for the MGA, used the press release to declare that he is ‘delighted’ to have signed such an agreement with the FIAU so as to further ensure that the online gaming market in Malta ‘is kept free from crime. The new release features BTG’s renowned Megaways random reel-modifier mechanic along with the Dual Reaction mechanic that splits the main reels in two. The watchdog’s Director, Kenneth Farrugia, proclaimed that the improved accord with the MGA will further help the organization to ensure that ‘the highest levels of anti-money laundering and financing of terrorism compliance are applied across the gaming sector’....

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Read a statement from the latter Farrugia…“The memorandum of understanding will therefore further strengthen the long-standing excellent relationship and the level of collaboration between the two authorities and demonstrate our commitment and determination in increasing Malta’s effectiveness in combatting money laundering and terrorism financing.Additional opportunities:The MGA stated that the enhanced union is also set to allow the pair ‘to discuss avenues of further co-operation’ regarding their systems to stamp out money laundering and terrorist financing that could encompass the increased training and assessment of individuals holding ‘key positions’ withing licensed iGaming operators.Increasing the jackpot pool will help give operators an edge over their competitors in what is an increasingly crowded iGaming market....