The 2025 Risk Evaluation Questionnaire (“REQ”) is now available on the Compliance and Supervision Platform for Assessing Risk (CASPAR) portal for completion by subject persons.
Subject persons are reminded that the REQ can only be submitted through the CASPAR portal.
The deadlines for submission of the 2025 REQ are as follows:
Thursday 10th April 2025
Virtual Financial Assets Service Providers
Real Estate Agents
Notaries
Gaming Operators
Thursday 17th April 2025
Trustees and Fiduciaries
Company Service Providers
Accountants and Auditors
Tax Advisors
Advocates
Thursday 24th April 2025
Credit institutions
Financial Institutions*
Investments Service and Securities Markets
Insurance and Pensions
*Excluding those FIs that submitted the REQ through the LH Portal, therefore, only FIs who also hold licences under the provision of the Investments Services Act, the Insurance Business Act or the Insurance Distribution Act.
Subject persons operating in categories falling on different deadlines should follow the last deadline. Submission of the REQ following the respective deadlines will be considered as a late submission and may result in subject persons being liable to an administrative penalty.
Failure to submit the REQ within the respective deadline contravenes Regulation 19 of the Prevention of Money Laundering and Funding of Terrorism Regulations (PMLFTR) and Section 5.12 of the Implementing Procedures Part I. Consequently, subject persons found in breach may be liable to the imposition of an administrative measure, including the imposition of an administrative penalty in terms of Regulation 21 of the PMLFTR.
The FIAU reminds subject persons who are not yet registered on the CASPAR portal, that they are obliged to do so without further delay. Guidance on the registration process can be viewed by accessing the CASPAR user guide. Once the registration is accepted, subject persons can view and complete the REQ 2025.
Communication
Subject persons are reminded that any queries in relation to CASPAR and the submission of the REQ 2025 should be sent via email [email protected]
If the subject person did not engage in any ‘relevant activity’ or ‘relevant financial business’ as defined by Regulation 2(1) of the PMLFTR during the year under review, it is expected to reach out to the FIAU, prior to the REQ deadline, via email on [email protected] wherein it must provide an explanation of the situation in order to request an exemption from filing the REQ. If accepted by the FIAU, the subject person will not be required to complete the REQ.
For more information, please visit the FAQs on https://fiaumalta.org/app/uploads/2023/12/FAQ-Risk-Evaluation-Questionnaire-v2.pdf