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Trulioo extends identity verification coverage to growing crypto and gaming hub Malta


Trulioo has extended the coverage of its global identity verification capabilities to Malta, enabling customers to tap into the country’s growing cryptocurrency and gaming markets by verifying the identities of individuals and businesses in Malta.

Organizations like tech companies, banks, payment processors, online marketplaces, and gaming companies can use Trulioo’s GlobalGateway marketplace of biometrics and other services to mitigate risk, prevent fraud, and comply with know your customer (KYC) and anti-money laundering (AML) regulations, according to the announcement.

The regulatory environment in Malta is shifting. The country was one of the first in the world to develop a national regulatory framework for virtual currencies, and Trulioo says it is becoming a cryptocurrency hub. Malta is also becoming a popular jurisdiction for operating gaming companies in, and announced the Gaming Act last year to apply KYC and AML laws to the industry. The EU’s Fifth Anti-Money Laundering Directive (5AMLD) will also apply to Malta when it comes into force next year, and Malta has received negative attention from the International Monetary Fund (IMF) and European regulators for its exposure to publicized money laundering scandals.

“Malta is at a pivotal moment. It’s fast becoming a cryptocurrency and gaming hub and is being keenly observed by industry watchers. In this climate, regulated entities in Malta should consider RegTech solutions that best fit their business needs while meeting compliance obligations, mitigating risk and preventing fraud,” says Trulioo General Manager Zac Cohen. “The regulatory framework put in place aims to support organizations to run operations in Malta responsibly, fairly and free from criminal activity, and we’re here to assist with that so the industry can continue to develop and innovate.”

Already this year, Trulioo has added coverage of Bangladesh, the Czech Republic, Slovakia and Poland.

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