Malta Gaming Authority has suspended Betixx Limited’s license. The operator said that the gambling operator was found to be violating a number of regulatory measures.
Betixx operates fixed odds betting services under its B2C gaming service license.
The gambling regulator said that Betixx violated paragraphs B and E of the Third Schedule to the Gaming Act as it failed to submit certain necessary documents with the MGA.
It is also penalized for failure to pay, in a timely manner, license fees, gaming tax and compliance contributions to the MGA.
The gambling regulator has sanctioned the operator to stop operations and not accept new players or deposits. Betixx is also required to let all players have access to their accounts and withdraw their deposits.
In a recent statement, UK Gambling Commission’s CEO Neil McArthur slammed Malta for being lax in implementing compliance measures after the gambling regulator found that the Malta-based gambling operators are the biggest offenders in the UK.
McArthur said that Malta’s compliance measures are simply “not good enough.”
Malta has also been under the radar for not doing enough to tackle the menace of money-laundering. Recently, Moneyval, which is a prominent Committee of Experts on the Evaluation of Anti-Money Laundering Measures and the Financing of Terrorism, said that Malta needs to do more to rein in the syndicates which are involved with financial crimes including money-laundering and terrorist financing.
In its report, charging the Maltese government, Moneyval said that they need to do more to ensure there is no money laundering in their banking and online gambling industry in particular.