PKF Fiduciaries International Limited is fully licensed by the 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. Such due diligence processes are repeated throughout the duration of the licences held.
Approved operators holding online gaming licenses, issued by authorities in Malta 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 and service providers.
It must be noted that the Online Gaming Industry in Malta, which 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 among others, and was one of the main drivers that improved substantially the 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, which success has been the envy of many EU member states While investigative journalism is acknowledged as a pioneer of progress in an educated society, 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 support 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 wish to remind readers of The Malta Independent and its portal, which disclosed our fiduciary services in the same context to that of 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 mentioned anywhere.