The survey on the Malta gambling industry compliance conducted between November 26 and December 10, 2020, by ARQ Group has reflected the main tendencies and challenges in this vertical.
The news about the global gambling market compliance has been among the most much-discussed topics in 2020. Regulatory changes, the COVID-19’s effects, and difficulties, which the gambling businesses worldwide faced, also raised the problem of compliance.
Compliance survey reflects the major risks
Fifty-one respondents participated in the survey, answering important questions about the compliance. The participants’ scope of interest covers various topics, including the country’s reputation, regulator’s fines, lack of employees involved in quality compliance, as well as lack of regulation or, vice versa, its excess. Each of them has assessed the level of concern about the problem basing on several criteria: from “not concerned at all” to “very concerned”. As the poll reveals, the country’s reputation is the most important topic.
The respondents have also assessed the level of money-laundering risks and those related to the financing of terrorism in the online and land-based gambling sectors. On a scale from 1 to 5, the majority of them rated these problems’ urgency as “3” in the remote gambling vertical, while the land-based market got the “4” grade.
In addition to this, the survey participants answered several questions about the experience connected with different problems in the Malta gambling industry. For example, twenty-three respondents have confirmed that customer risk assessment is challenging for them. Jurisdictional risk assessment, in its turn, is slightly challenging to almost half of all the poll participants.
Read more: Current regulations for gambling in Europe