The new FIAU Implementing Procedures launched on 19th July 2019, are for the first time introducing the possibility to have in place an outsourcing arrangement. Here is a Q &…
Organising your data as part of your AML-CFT Management
As expected, the launch of the new FIAU Implementing Procedures, retained section 9.5.2 (see below) that was introduced in the original consultation document. 9.5.2 Organisation and Categorisation of Records To…
New FIAU Implementing Procedures – Sanctions Screening
Finally, the FIAU has published the long-awaited new Implementing Procedures after launching the consultation document in late October 2018. To many, and quite rightly, when the consultation document was published,…
Risk Evaluation Questionnaire (REQ) issued by FIAU Malta
On 4th January 2019, FIAU Malta issued a new AML Risk Evaluation Questionnaire (REQ). You can download the document, Guidance for completion of the Anti Money Laundering and Countering the…
New FIAU Implementing Procedures (2018)
The much-awaited Consultation Document by Malta’s FIAU, proposing amendments to the Implementing Procedures Part 1, was published on the 30th October 2018. The consultation period ends at the end of…
Increasing Challenges for the MLRO
The introduction of the new Prevention of Money Laundering and Funding of Terrorism Regulations (PMLFTR) has undoubtedly presented the MLRO with a number of new challenges, which unfortunately are very…
Maltese AML Law – Regulatory Update
Towards the end of 2017, a number of Legal Notices were issued, bringing the final step for the transposition of the EU 4th AML Directive into Maltese legislation. These are: Legal…
The 4th Directive is getting closer… is it just another day?
On 1st December 2017, the President of Malta gave her assent to bill ACT number XXVIII which is amending Chapter 373 of our laws, namely the Prevention of Money Laundering…
Risk Based Approach – the new mandatory concept to manage your AML risks
The consultation document issued by the FIAU to propose the new Prevention of Money Laundering and Funding of Terrorism Regulations (better known as the PMLFTR) has been published on 6th July…