Publication of a Guidance Note on Mononymous Natural Persons

22nd June 2023

The FIAU has just published the “Guidance Note on Mononymous Natural persons”. This document is addressed to all AML/CFT subject persons in Malta.

The purpose of this Note is to provide guidance on the AML/CFT measures that subject persons are to take when they are required to identify and verify the identity of natural persons who have only one name listed on their identification document (mononymous natural persons).

When dealing with mononymous persons, subject persons are guided to consider applying one or more of the additional verification measures listed in Section of the Implementing Procedures Part I as these give more reassurance about the genuineness of the customer’s identity.

It also provides examples on how the risk-based approach should be applied in the different scenarios that subject persons may face to adhere to their AML/CFT obligations.

Furthermore, guidance is also provided on the procedures relating to the reporting of mononymous natural persons on the Centralised Bank Account Register (CBAR) and on the goAML platform.

Questions related to this Guidance Note are to be sent on the following email address: [email protected]

The Guidance Note may be accessed by clicking below:

More News
Notice – CBAR System – Downtime
Read More
Information Sessions on the new EU AML Legislative Package - Presentations and Feedback
Read More
goAML Rejection Rules
Read More
Skip to content