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9 EDITORIAL BusinessToday is published every Thursday. The newspaper is a MediaToday publication and is distributed to all leading stationers, business and financial institutions and banks. MANAGING EDITOR: SAVIOUR BALZAN EDITOR: PAUL COCKS BusinessToday, MediaToday, Vjal ir-Rihan, San Gwann SGN9016, Malta Newsroom email: bt@mediatoday.com.mt Advertising: afarrugia@mediatoday.com.mt Telephone: 00356 21 382741 25.01.2024 N ationalist MP David Agius creat- ed furore in parliament on Tues- day when he claimed the Maltese top-flight football league is fixed and the winner is known. He did not mention names or substan- tiate the claims but was simply repeat- ing the words often heard in football circles and among fans. Agius enjoys parliamentary privilege and yet, even if he knew more than he let out, still chose to keep the details to himself. e Malta Football Association was correct to say that anyone with informa- tion or knowledge of corruption has the duty to report the matter to the relevant authorities. e most significant way that match-fixing can be eradicated or fought in earnest is if people with infor- mation come forward. e complex manner by which sport corruption takes place makes it vir- tually impossible to spot. e onset of online betting sites created a legitimate third-party vehicle over which large sums of money can be played on every imaginable combination of outcomes, by people who have no direct interest in the clubs playing on the pitch. It can take the agreement of just one player to manipulate aspects of the game that do not necessarily alter the outcome, or make it look ridiculous. In- deed, in many instances, the outcome of the game may still be plausible, making it all the more difficult to spot corrup- tion. ere are technological means to mon- itor how bets are being played, which can then raise red flags on some games. But even these means on their own do not provide the necessary proof to nail the culprits and bring down criminal rings. Investigations to bring down these rings would require much more cross-border intelligence gathering op- erations and possibly infiltrations. Malta's National Risk Assessment 2023 published by the Malta Gaming Author- ity, which covers money laundering, terrorist and proliferation financing and targeted financial sanctions, outlines the money laundering risk that several online gaming products present. e reference was to products which are fully dependent on the outcome of an underlying event. e manipulation of such events may give rise to potential money laundering opportunities, the report says, particu- larly where the customer is aware of the outcome of an event prior to such event taking place. e most obvious means of manip- ulating events is through match fixing in sporting events. e assessment says that while the sporting event is general- ly outside of the control of the gaming operators, knowledge of the outcome may lead to customers betting on a par- ticular event and being guaranteed a winning return on such bet. But the risks are not only limited to physical sporting activities. e year- ly assessment suggests that fantasy sports, an emerging product, may also be exposed to the vulnerability of play- ers transferring funds to one another to maximise on winnings by determining the outcome. Getting to the bottom of such a com- plex network is not easy and requires technical expertise, significant resourc- es and cross-border cooperation. Corruption in sports, like anywhere else, distorts the playing field, creates an unfair situation for unsuspecting players, undermines the positive values associated with sports and erodes mo- rality. Bona fide gaming companies should do more to stamp out abuse through proper due diligence of players and ade- quate monitoring systems to spot dubi- ous wagers. e executive must also provide the forces of law and order the right tools to up their game, while potential whis- tle-blowers should be protected in a way that allows them to testify and pro- vide information that can be translated into proof. e authorities must also be more vigilant on football clubs and oth- er sport organisations that can be used by certain individuals to launder money obtained from illicit activities. It is in the industry's and society's in- terest that sport corruption is fought in the most earnest of ways. The fight against sport corruption must up its game n August 2023, the seasonally adjusted volume of retail trade decreased by 1.2% in the euro area and by 0.9% in the EU, compared with July 2023, according to estimates from Eurostat, the statistical office of the European Union. In July 2023, the retail trade volume decreased by 0.1% both in the euro area and in the EU. In August 2023 compared with August 2022, the calendar adjusted retail sales index decreased by 2.1% in the euro area and by 2.0% in the EU. In the euro area in August 2023, compared with July 2023, the volume of retail trade decreased by 3.0% for automotive fuels, by 1.2% for food, drinks and tobacco and by 0.9% for non-food products. In the EU, the volume of retail trade decreased by 2.4% for automotive fuels, by 0.9% for food, drinks and tobacco and by 0.6% for non-food products. Retail Price Volume DID U KNOW?

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