27th August 2020 The Financial Intelligence Analysis Unit (“FIAU”) has today issued a Consultation Document setting out a proposal for subsidiary legislation providing for the application of FATF Recommendation 16, more commonly referred to as the ‘Travel Rule’, to transfers of virtual financial assets. While usually applicable within the more traditional sphere of transfer of […]
26th August 2020 In terms of the Prevention of Money Laundering and Funding of Terrorism Regulations (S.L. 373.01) (‘PMLFTR’), lawyers (including law firms) are deemed to be subject persons with AML/CFT obligations when they carry out ‘relevant activity’. This term is defined under Regulation 2(1) of the PMLFTR, however not all the services provided by […]
21st August 2020 The FIAU would like to inform the subject persons who are obliged to report to CBAR, that the pilot testing period has been extended from the 21st August 2020 to the 2nd of September 2020. On the 3rd and 4th of September 2020, access to the system will be disabled until the […]
20th August 2020 The FIAU has gathered all the technical answers to the questions asked by various subject persons on the new suspicious transaction reporting (‘STR’) system which has recently replaced the old PDF document submission system. The FAQs are categorised by the system functionality and by specific sectors, such as the gaming industry. The […]
17th August 2020 The Financial Intelligence Analysis Unit (FIAU) is hosting a webinar on the Funding of Terrorism (FT), which may be of interest to all subject persons. This webinar will be spread over two separate sessions lasting one hour each: The first session will focus on the Maltese element of FT and will be held […]
13th August 2020 The FIAU would like to inform all subject persons that are obliged to report to the FIAU via XML through the goAML system that, as a result of ongoing discussions and careful analysis of the current situation, the implementation deadline has been extended from the 22nd August 2020 to the 7th September […]
13th August 2020 In line with the EBA’s work programme on financial innovation, the EBA is currently performing an analysis in the area of RegTech and is inviting financial institutions and ICT service providers to share their views and experience on the use of RegTech solutions via a RegTech industry survey. The aim of the […]
12th August 2020 The recording of the webinar on Trade Based Money Laundering held on 29th July is now available. The webinar is meant to to provide basic notions and practical information on Trade Based Money Laundering (TBML). It is meant to assist subject persons in understanding and preventing such schemes by providing an overview […]
10th August 2020 We are pleased to inform you that the FIAU has published an update on its most prominent achievements during the months of January and July of this year. In this publication, the FIAU also shares some of its meaningful future targets and aspirations. During the COVID-19 pandemic, the FIAU has, like many […]