PKF Fiduciaries International Limited is a company fully licensed by MFSA to operate as a fiduciary company in terms of the Trusts and Trustees Act. This means that although the name of the ultimate beneficial owner of a client company is not known to the public, the full details of all the beneficiaries are available upon request to the Maltese authorities.

In all cases companies that apply for and are granted a gaming licence issued by the Malta Gaming Authority are subject to further extensive and rigorous due diligence processes to verify that the ultimate beneficiaries are of good standing, by the same authorities prior to the commencement of the application process and such due diligence processes are repeated throughout the duration of the licenses being held. 

Approved operators holding online gaming licenses, issued by authorities in Maltese and/or other jurisdictions, are subject to an extensive and rigorous due diligence process carried out by the same authorities as well as advanced due diligence by third party gaming product & service providers.

It needs to be noted that the Online Gaming Industry in Malta, which from the outset is based on a robust regulatory framework in compliance with applicable EU and International legislation, has since 2003 attracted substantial foreign investment to the island, employs directly over 6000 highly paid individuals specialised in various sectors covering IT, Risk Management, CMR, Software Design and Marketing, amongst others, and was the one of main drivers towards substantial improvements in digital infrastructure and communication. In a span of 12 years Malta has managed to become the largest European hub for regulated online gaming products and services, and which success has been the envy of many EU member states over the years. Notably, and while investigative journalism is hereby acknowledged as a pioneer of progress in an educated society, unfortunately the fact that the recent investigation initiated and conducted by the Italian Authorities is being given more (undue) prominence by local media than the Italian media, only serves as an undesirable exercise that discredits the robustness and credibility of the many years of hard work invested by regulators to build and buttress our own local gaming and financial services framework. Naturally Italy takes every measure to protect its intake of gaming taxes linked to cross border remote gaming traffic by its citizens.

Finally we categorically wish to remind viewers of the Independent portal which disclosed our fiduciary services in the same context as that other local companies connected to the recent criminal investigation on alleged suspect dealings by the Italian Authorities, that neither PKF Fiduciaries International Limited (nor its directors) are anywhere mentioned.

Marilyn Mifsud, LL.D, Advocate

Business & Securities Associate