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 year.  

The document highlights areas for improvement that CSPs should apply to achieve a better level of compliance. This will enable CSPs to play a more effective role when acting as gatekeepers to prevent the misuse of corporate vehicles for Money Laundering and Funding of Terrorism (ML/FT) purposes.