16th September 2020 The FIAU would like to bring to your attention the latest publication issued by the FATF on the 14th September entitled: ‘Virtual Assets Red Flag Indicators of Money Laundering and Terrorist Financing’. Virtual assets (VA) and related services have the potential to spur financial innovation and efficiency, but their distinct features also […]
15th September 2020 One of the issues highlighted in Malta’s Mutual Evaluation Report revolved around the timeframe for subject persons to submit Suspicious Transaction Reports (“STRs”) to the Financial Intelligence Analysis Unit (“FIAU”) as it was deemed that the said timeframe did not provide for the prompt submission of such reports. To address this issue, […]
4th September 2020 Link to the Malta Financial Services Oversight Website
2nd September 2020 The FIAU would like to inform the subject persons who are obliged to report to CBAR, that the pilot testing period has been extended further from the 2nd September 2020 to the 16th of September 2020. It is important to remember that during the pilot testing, the FIAU is expecting anonymized data […]
27th August 2020 The Financial Intelligence Analysis Unit (“FIAU”) has today issued a Consultation Document setting out a proposal for subsidiary legislation providing for the application of FATF Recommendation 16, more commonly referred to as the ‘Travel Rule’, to transfers of virtual financial assets. While usually applicable within the more traditional sphere of transfer of […]
26th August 2020 In terms of the Prevention of Money Laundering and Funding of Terrorism Regulations (S.L. 373.01) (‘PMLFTR’), lawyers (including law firms) are deemed to be subject persons with AML/CFT obligations when they carry out ‘relevant activity’. This term is defined under Regulation 2(1) of the PMLFTR, however not all the services provided by […]
21st August 2020 The FIAU would like to inform the subject persons who are obliged to report to CBAR, that the pilot testing period has been extended from the 21st August 2020 to the 2nd of September 2020. On the 3rd and 4th of September 2020, access to the system will be disabled until the […]
20th August 2020 The FIAU has gathered all the technical answers to the questions asked by various subject persons on the new suspicious transaction reporting (‘STR’) system which has recently replaced the old PDF document submission system. The FAQs are categorised by the system functionality and by specific sectors, such as the gaming industry. The […]
17th August 2020 The Financial Intelligence Analysis Unit (FIAU) is hosting a webinar on the Funding of Terrorism (FT), which may be of interest to all subject persons. This webinar will be spread over two separate sessions lasting one hour each: The first session will focus on the Maltese element of FT and will be held […]