14th June 2021

The Financial Intelligence Analysis Unit (‘FIAU’) would like to inform subject persons that in the exercise of the powers conferred by Article 12(5) of the Prevention of  Money Laundering Act (Cap. 373), the Minister for Finance and Employment, acting on the advice of the National Co-ordinating Committee on Combating Money Laundering and Funding of Terrorism has designated a list of public functions in Malta and those held within international organisations accredited in Malta, which are to be considered as prominent public functions for the purpose of any regulations issued under the aforementioned Act.

In accordance with paragraph (i) of the definition of ‘politically exposed persons’ (Regulation 2(1) of the Prevention of Money Laundering and Funding of Terrorism Regulations) persons entrusted with such functions are considered to be politically exposed persons (PEPs).

Subject persons are expected to review their ongoing business relationships and any prospective occasional transactions so as to be able to update their client profiles (including customer risk assessments) and due diligence measures where necessary in view of any changes in a person’s PEP status.

The list has been published through Government Gazette No. 20,602 of 6^th April 2021 and may be accessed through the following link (Item No. 437):