How We Do It
Maltese Legislation
The various laws and standards aimed at combating money laundering and terrorist financing are being continually updated on international and local levels to respond to the evolving threats posed by criminals and terrorists.
Click on the following page links to access the applicable legislative provisions and recommendations:
EU Legislation
European Union (EU) legislation is largely based on the international standards adopted by the Financial Action Task Force (FATF), of which the European Commission is a founder member. The EU framework requires member states of the EU to introduce measures requiring financial institutions and Designated Non-Financial Businesses and Persons (DNFBPs) to take appropriate action to prevent themselves from being used for money laundering or terrorist financing.
The following Directives have been transposed into local legislation, and the Regulation is directly applicable.
FATF
The Financial Action Task Force is an independent inter-governmental body tasked with developing standards and promoting policies aimed at protecting the global financial system against money laundering, terrorist financing and the financing of the proliferation of weapons of mass destruction.
The FATF Recommendations, which set out a comprehensive and consistent framework of measures that countries should adopt, are the internationally endorsed global standards against money laundering and the financing of terrorism.
Procedures & Guidance
The Financial Intelligence Analysis Unit is the national central agency in Malta that is responsible for the collection, collation, processing, analysis and dissemination of information to combat money laundering and the funding of terrorism.
Publications & Consultations
Public Private Partnerships
Effective public-private partnerships constitute a key and critical aspect in the global fight against money laundering and terrorism financing, as the prevention and detection of potential ML/TF cases is significantly dependent on the private sector’s implementation of effective AML/CFT programmes.
