{"id":567,"date":"2024-04-29T03:28:57","date_gmt":"2024-04-29T07:28:57","guid":{"rendered":"https:\/\/blogs.duanemorris.com\/europeansanctionsenforcement\/?p=567"},"modified":"2024-04-29T07:56:18","modified_gmt":"2024-04-29T11:56:18","slug":"malta-first-fine-imposed-by-sanctions-monitoring-board","status":"publish","type":"post","link":"https:\/\/blogs.duanemorris.com\/europeansanctionsenforcement\/2024\/04\/29\/malta-first-fine-imposed-by-sanctions-monitoring-board\/","title":{"rendered":"Malta &#8211; first published fine imposed by Sanctions Monitoring Board"},"content":{"rendered":"<p>Malta&#8217;s Sanctions Monitoring Board (the &#8220;SMB&#8221;) has, for the first time , imposed a fine for breach of EU sanctions.<\/p>\n<p>The company in question was ArabMillionaire Limited. The <a href=\"https:\/\/smb.gov.mt\/news\/list-of-individuals-and-entities-subject-to-publication-in-terms-of-article-195-of-the-national-interest-enabling-powers-act\/\">SMB publishes the names of all company&#8217;s<\/a> fined more than \u20ac800, but the size of the fine is otherwise unspecified.<\/p>\n<p>Also unspecified is the conduct giving rise to the fine, but it was said to have been identified &#8220;at the time of supervisory examination conducted between June and August 2020&#8221;.<\/p>\n<p>It is unclear when the fine was issued as this information is not specified on the website and the Sanctions Monitoring Board has confirmed that such information is confidential.<\/p>\n<p>ArabMillionaire operated as an online casino (trading as Playfooz.com) based in Dubai. It&#8217;s licence from the Malta Gaming Authority was suspended in <a href=\"https:\/\/www.mga.org.mt\/suspension-of-authorisation-for-arabmillionaire-limited-c-81104\/\">October 2022<\/a>, and then <a href=\"https:\/\/www.mga.org.mt\/cancellation-of-authorisation-for-arabmillionaire-limited-c-81104\/\">cancelled<\/a> in October 2023.<\/p>\n<p>It <a href=\"https:\/\/islamistwatch.org\/the-malta-gaming-authority-announces-the-suspension-of-the-license-of-arab-millionaire-online-casino\/\">has been reported<\/a> that alongside other regulatory failings part of the reason for these actions by the Malta Gaming Authority was non-compliance with money laundering and counter terrorist financing.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Malta&#8217;s Sanctions Monitoring Board (the &#8220;SMB&#8221;) has, for the first time , imposed a fine for breach of EU sanctions. The company in question was ArabMillionaire Limited. The SMB publishes the names of all company&#8217;s fined more than \u20ac800, but the size of the fine is otherwise unspecified. Also unspecified is the conduct giving rise &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/blogs.duanemorris.com\/europeansanctionsenforcement\/2024\/04\/29\/malta-first-fine-imposed-by-sanctions-monitoring-board\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Malta &#8211; first published fine imposed by Sanctions Monitoring Board&#8221;<\/span><\/a><\/p>\n","protected":false},"author":656,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[79,80,71],"tags":[20,12,66],"ppma_author":[7],"class_list":["post-567","post","type-post","status-publish","format-standard","hentry","category-79","category-consumer-products-and-services","category-financial-services","tag-financial-sanctions","tag-fine","tag-malta"],"authors":[{"term_id":7,"user_id":656,"is_guest":0,"slug":"mhandley","display_name":"Mark Handley","avatar_url":"https:\/\/blogs.duanemorris.com\/europeansanctionsenforcement\/wp-content\/uploads\/sites\/65\/2023\/09\/handleymark-100x100.jpg","0":null,"1":"","2":"","3":"","4":"","5":"","6":"","7":"","8":""}],"_links":{"self":[{"href":"https:\/\/blogs.duanemorris.com\/europeansanctionsenforcement\/wp-json\/wp\/v2\/posts\/567","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/blogs.duanemorris.com\/europeansanctionsenforcement\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blogs.duanemorris.com\/europeansanctionsenforcement\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blogs.duanemorris.com\/europeansanctionsenforcement\/wp-json\/wp\/v2\/users\/656"}],"replies":[{"embeddable":true,"href":"https:\/\/blogs.duanemorris.com\/europeansanctionsenforcement\/wp-json\/wp\/v2\/comments?post=567"}],"version-history":[{"count":0,"href":"https:\/\/blogs.duanemorris.com\/europeansanctionsenforcement\/wp-json\/wp\/v2\/posts\/567\/revisions"}],"wp:attachment":[{"href":"https:\/\/blogs.duanemorris.com\/europeansanctionsenforcement\/wp-json\/wp\/v2\/media?parent=567"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blogs.duanemorris.com\/europeansanctionsenforcement\/wp-json\/wp\/v2\/categories?post=567"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blogs.duanemorris.com\/europeansanctionsenforcement\/wp-json\/wp\/v2\/tags?post=567"},{"taxonomy":"author","embeddable":true,"href":"https:\/\/blogs.duanemorris.com\/europeansanctionsenforcement\/wp-json\/wp\/v2\/ppma_author?post=567"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}