Malta’s FIAU, Financial Intelligence Analysis Unit, had announced the number of dubious transaction reports, aka STRs, received from some remote betting operators, which totaled over double of year-on-year in the previous year 2019.
The annual GGR total of around 1445 represented an increase of 106.4% on the 700 reports reported in 2018. In the meantime, the FIAU, which is a Maltese government agency, also marked that in the period of five months to May 2020, more than 741 reports had been granted.
This showed the fifth successive year of augmentation in the quantity of STRs filed with FIAU, with that having hiking each and every year since 2014 when only 22 reviews had been raised.
These anonymous companies were basically responsible for reporting 32% of total STR in 2019, while five more companies raised only 35% of those reports. The remaining STRs had been push forth by 72 entities, with 29 remote betting operators having documented only one report during that year.
Dubious Documentation
As stated by the FIAU, the prime reason for documenting STR reports was a concern relating to a transaction, which reckoned 46% of toral reports. Then, FIAU said that the prime concerning areas were some inexplicable transaction activities, massive deposits not in line with typical behavior, complicated chargebacks, and transactions.
Some around 21% of STRs were somehow linked to behavior, counting when the customer failed to provide documentation and details on request, while around 16% of total STRS in the previous year were for verification and identification procedures and filing issues.
In addition, almost 3% of all reports were for antithetic media, and some other 2% were because of the involvement of higher risk Jurisdiction.
Looking at some dubious accusations, most STRs did not provide a particular infringement, with around 46% being documented as unrecognized and the other 16.
