Malta Gaming Authority Announces License Suspension Of Arabmillionaire Limited
The Malta Gaming Authority (MGA) has suspended the UAE-based lottery service provider Arabmillionaire Limited’s gaming license due to breaches of legal requirements set by the authority. As of October 12th, 2022 the MGA subsequently mandated that all services and operations offered by the Arabmillionaire company cease immediately. The MGA claims that the lottery operator disregarded the Authority’s directives, failed to fulfill regulatory requirements, failed to fulfill financial responsibilities, and failed to make timely payments to the MGA. Additionally, Arabmillionaire disregarded regulations against money laundering and countering terrorism financing.
The operator is no longer authorized to run gaming activities, sign up new players, or take deposits while holding a MAG license. However, it must continue to give registered players access to their accounts and must refund any money that is still in their accounts.
Player Safety Comes First
A crucial element of gambling is security, which necessitates a constant state of awareness and careful attention from all casino and lottery providers. Arab players in the Middle East are strongly advised to only access reputable websites that provide MGA-compliant security measures. Because of this, casinoelarabs.com is striving to remove all the casinos which are not in compliance with the Authority’s regulations. In order to protect Arab gamers, Casino El Arabs staff members confirm they have already banned several non-compliant gaming and lottery organizations. According to Sameer Ismail of Casinoelarabs, “the players’ complete security from any type of fraud or noncompliance activity is our top priority and Arabic speaking players can rely on the safety of the gambling operators we list”.
Malta Gaming Authority’s New Player Protection Guidelines
The incident with UAE-based operator Arabmillionaire has inspired the MGA to review and update its player protection guidelines. The proposals include the addition of five more risk indicators that licensees must take into account when putting mechanisms in place to identify and address problem gambling. The MGA has also suggested guidelines for additional staff training and real-money reinforcement
Malta Gaming Authority’s Warning To Non-Licensed Operators
In addition, the MGA has also had to deal with a number of operators operating illegally in the UAE. After a thorough investigation, it was revealed that at least 18 domains are active in the nation without an MGA license. The MGA could identify all the unlicensed websites. Names like 24Pokies and 4 Crowns Casino already ended on their blacklist and recommend that users do not register at these sites. If a player already has an account on one of those sites, the Authority suggests that they close it as soon as possible. Operators operating without a license are unable to provide players with a high enough level of protection against any third-party fraud attempts.
Despite the positive effects of the MGA’s investigational work on the regulated market, more must be done to safeguard players’ interests in the online gambling sector. The importance of doing your research before opening an account with a new operator cannot be emphasized enough. To identify reputable casinos or lottery companies, we advise using only authorized gaming directories and checking the MGA website for comprehensive information on operators that have been blacklisted.…
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Source: Eastern European Gaming
