Month: December 2023

December 20, 2023

goAML XML Schema Updates

20th December 2023 The Financial Intelligence Analysis Unit (FIAU) recently released a comprehensive guidance document addressing the New Report Type on goAML: Suspicion of Cash Restriction Breach Report (SCRBR). This information is crucial for reporting entities, and we want to ensure you are well-informed. Reporting Requirement for Cash Restriction Breach and ML/FTIt is crucial to […]

Read More
December 20, 2023

Appointment of Director

20th December 2023 The Board of Governors of the Financial Intelligence Analysis Unit (FIAU) has, in accordance with article 23(1) of the Prevention of Money Laundering Act, appointed Mr Alfred Zammit as Director of the FIAU with effect from the 20 December 2023. Mr Zammit has been appointed following a public call for applications and […]

Read More
December 14, 2023

Compliance by Company Service Providers in relation to the provision of Company Formation Services – Thematic Review 2023

14th December 2023 The Financial Intelligence Analysis Unit (FIAU) is issuing the following communication to subject persons in relation to the thematic review on Corporate Service Providers’ (CSPs) adherence to their obligations emanating from the Prevention of Money Laundering and Funding of Terrorism Regulations (PMLFTR), more specifically Regulation 7(1)(c), which was carried out earlier this […]

Read More
December 7, 2023

New Report Type on goAML: Suspicion of Cash Restriction Breach Report (SCRBR) 

7th December 2023 The Suspicion of Cash Restriction Breach Report (SCRBR) will be introduced on goAML as of 1st January 2024. The main purpose of the SCRBR is for subject persons to report known or suspected breaches of the Cash (Restriction) Regulations directly to the Cash Restriction Section within the FIAU. The guidance document will provide detailed […]

Read More
December 5, 2023

EBA Consultation Paper on the ‘Travel Rule’ Guidelines

5th December 2023 The FIAU would like to inform banks, financial institutions, Virtual Asset Service Providers and any other interested subject persons that the European Banking Authority (EBA) has issued for public consultation new ‘Guidelines on preventing the abuse of funds and certain crypto-assets transfers for money laundering and terrorist financing purposes’. It is in […]

Read More
December 4, 2023

The 2023 AML/CFT Conference for the Real Estate Sector

The FIAU would like to thank once again the attendees who joined us last week for the AML/CFT Conference for the Real Estate Sector. During this conference, speakers from the FIAU, SMB, ARB, the Real Estate Licensing Board and the AML Committee of the Notarial Council provided subject persons operating in the Real Estate sector […]

Read More
December 1, 2023

New publications from the FATF

1st December 2023 1. Amendments to Recommendation 8 and its Interpretive Note In June 2023, the FATF proposed revisions to Recommendation 8 and the accompanying Interpretative Note. The revision aimed to address the problem of over-application of preventive measures to the Non-Profit Organisations (NPOs) sector in some countries, recognising its negative impact on legitimate NPO […]

Read More