Maltas FIAU Launches 2025 Risk Evaluation Questionnaire for Gaming Operators

March 09 2025 08:08:49 by PCLMedia

The Financial Intelligence Analysis Unit (FIAU) in Malta has officially opened its 2025 Risk Evaluation Questionnaire (REQ) for iGaming operators. This compliance initiative aims to enhance the integrity of Malta's dynamic gaming sector and further strengthen efforts against money laundering and terrorist financing. The submission deadline for this year’s REQ is set for April 10, 2025, making it crucial for operators to begin the process now.

A Deep Dive into Malta’s Thriving iGaming Industry

Malta has long been recognized as a hub for the global iGaming industry, offering a robust regulatory environment that attracts operators from around the world. The country’s progressive stance on gaming regulation and its highly respected licensing framework have made it an appealing destination for operators. This, in turn, ensures that Malta remains at the forefront of the digital gaming sector.

With the growing influence of Malta's iGaming sector, safeguarding its integrity is more important than ever. The FIAU’s REQ initiative plays a pivotal role in ensuring that operators adhere to international standards for financial transparency and the prevention of illicit activities. Given the significance of Malta’s role in the global gaming market, operators need to fully align with these compliance measures, not just to avoid penalties but to reinforce trust and credibility in the industry.

How the REQ Supports Malta’s Gaming Sector

The Risk Evaluation Questionnaire is a critical compliance tool for iGaming operators, designed to assess the effectiveness of their anti-money laundering (AML) and combating the financing of terrorism (CFT) measures. The REQ enables the FIAU to evaluate the risk profiles of gaming operators and identify any vulnerabilities in their operations. This proactive step helps Malta maintain its reputation as a regulated jurisdiction that takes financial crime prevention seriously.

Accessible exclusively through the Compliance and Supervision Platform for Assessing Risk (CASPAR) portal, the REQ was launched on March 3, 2025. While operators can begin gathering preliminary information through Excel and PDF versions of the questionnaire, all final submissions must be completed through the CASPAR system. This ensures a streamlined, secure submission process that aligns with the FIAU’s commitment to efficiency and compliance.

Why Operators Must Act Now: The Consequences of Non-Compliance

Failure to meet the submission deadline for the REQ could have serious consequences. Non-compliance with Regulation 19 of the Prevention of Money Laundering and Funding of Terrorism Regulations (PMLFTR), along with sections outlined in the Implementing Procedures, may lead to administrative penalties under Regulation 21 of the PMLFTR. Given Malta’s stringent regulatory landscape, operators cannot afford to overlook the importance of submitting accurate and timely information.

For operators that have not engaged in “relevant activity” or “relevant financial business” during the review period, the FIAU offers an exemption process. Operators must contact the FIAU at compliance@fiaumalta.org before the submission deadline to apply for this exemption.

Key Steps for iGaming Operators in Completing the REQ

To ensure smooth and successful submission of the REQ, gaming operators must take the following steps:

1. Update the Subject Person Profile: Operators should ensure that their profile on the CASPAR portal is up-to-date, including detailed information on ownership, business structure, financial data, and target markets. Accurate information here forms the foundation of the REQ.

2. Conduct a Business Risk Assessment: A comprehensive Business Risk Assessment (BRA) is required as part of the submission process. This assessment evaluates the risks associated with the operator’s operations, including exposure to money laundering and terrorist financing. It must be uploaded to the CASPAR portal to complete the REQ.

3. Familiarize Yourself with the CASPAR System: The FIAU offers a range of resources, including the CASPAR user guide, to help operators navigate the platform. Detailed guidance on completing each question within the REQ is also available, ensuring that operators understand the requirements and can submit accurate information.

The Role of Compliance in Strengthening Malta’s iGaming Sector

For Malta, the iGaming sector represents not only a key economic driver but also a cornerstone of its global reputation for regulatory excellence. As more companies flock to Malta to obtain licenses and operate within the jurisdiction, the importance of regulatory compliance becomes even more critical.

By participating in initiatives like the FIAU’s 2025 REQ, operators demonstrate their commitment to transparency, integrity, and financial responsibility. This not only benefits individual operators but also supports the overall health of Malta’s iGaming ecosystem. With Malta positioned as a trusted jurisdiction for regulated gaming, maintaining rigorous standards of compliance is crucial for long-term success.

As the global landscape of gaming continues to evolve, Malta’s proactive stance on AML and CFT compliance, exemplified by the REQ, ensures that its gaming sector remains a model of best practice and attracts operators who share the same commitment to ethical business practices.

Final Thoughts

The 2025 Risk Evaluation Questionnaire is more than just a regulatory requirement—it’s a vital tool for maintaining the integrity and sustainability of Malta’s iGaming sector. Operators should prioritize compliance, ensure their submissions are timely and accurate, and take full advantage of the support and resources offered by the FIAU. By doing so, they will contribute to the continued success of Malta as a global leader in regulated gaming.

For any questions or assistance during the submission process, operators are encouraged to consult the FIAU’s guidelines or reach out to the compliance team directly at compliance@fiaumalta.org.