MALTA VETO ON SPORTS BETTING RULES STUMBLING BLOCK IN FATF REVIEW

On 13 June, Malta Today reported that Malta could have to withdraw its veto on an European sports betting convention if it is to finally get the all-clear from FATF in the coming days on its Moneyval AML/CFT review.  The Macolin Convention is a Council of Europe treaty aimed at tackling the manipulation of sport.  FATF is expected to take its first decision on 15 June.  Since 2014, Malta has contested a definition in the Convention which could affect its lucrative gambling revenues.  It has objected to the definition of “illegal sports betting”, because the provision in question will make illegal any sports betting activity in one state, if the law of the jurisdiction of the consumer of the betting service considers it to be so.  7 Council of Europe member states have ratified the Convention – just enough for it to enter into force – and 19 have signed it, and Malta’s veto also prevented the European Commission signing it on behalf of all of its EU Member States.

https://www.maltatoday.com.mt/news/national/110215/malta_veto_on_sports_betting_rules_stumbling_block_in_financial_action_task_force_review#.YMX1ufKSmM8

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Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section

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