Malta is a center for international iGaming industries. There are multiple factors supporting the growth of iGaming business in Malta leading to countless opportunities within the industry.
Compliance is one of the vital sectors within the industry that provides numerous opportunities for skilled and knowledgeable individuals with experience in the compliance sector.
Responsibilities of Compliance Professionals iGaming industry
Compliance is an important part of the iGaming business as it safeguards the players from fraud, addiction, and data breaches, and provides a market for iGaming companies to operate smoothly by maintaining licenses and helping companies expand their operations.
Moreover, a noncompliance business in the iGaming industry in Malta has to pay fines and face reputational damages as the players and stakeholders have strong trust in companies with a strong compliance framework.
Roles in compliance
1. Compliance officer
A compliance officer is a person who oversees the company's adherence to the gambling laws at international and local levels and regulates them.
These officers are responsible for developing internal policies and monitoring operations to comply with regulatory bodies in Malta like the Malta Gaming Authority (MGA).
2. Anti-money laundering specialist
Anti-money laundering specialist is an expert in preventing financial crimes caused by money laundering and financial terrorism.
They are responsible for conducting customer due diligence (CDD) and monitory transactions, activities that seem suspicious are overseen by the financial intelligence analysis unit.
3. Data protection officer
A data protection officer is the one who ensures that the iGaming companies in Malta align with general data protection laws to ensure the protection of players' data and notifications as well as imply privacy measures to protect the players.
4. Responsible gaming manager
A responsible gaming manager promotes and puts emphasis on safe gaming practices in a responsible manner and implements self-exclusion tools so that the players are not addicted to the game.
They also monitor players' behavior and educate them about responsible gaming policies and practices.
5. Risk and compliance analyst
High-risk compliance analysts are responsible for data assessment and analysis of data.
They look for potential threats and develop strategies to prevent this kind of risky behavior. They mainly identify and mitigate risks related to compliance for breaches.
6. Licensing manager
The licensing manager is responsible for managing and maintaining the gaming license of the companies by following various jurisdictions.
They prepare licenses and documents to ensure that the companies are compliant and stay on duty with the license requirements.
7. Internal auditor
An Internet auditor is someone who is compliance-focused and reviews the company's internal processes to make sure that the compliance standards are met.
These auditors regularly conduct audits self prepare reports and recommend the procedures for improvement in the iGaming industry.
Compliance is one of the most important parts of the iGaming sector and is responsible for managing the legal aspect of the companies and ensuring that they comply with the rules and regulations of the country.