In pursuit of a common goal of safeguarding the Maltese financial sector, gaming sector, and other sectors and professions from being misused for criminal purposes, the FIAU would like to bring to the attention of all subject persons a notification which has just been issued...
EU finance ministers on Thursday again dampened expectations on completing major banking reforms in Europe, with big divisions between Germany and Italy on how to move forward. "We must never lose hope. I don't hide from you that it's a difficult negotiation," French Finance Minister Bruno...
Finance Minister Clyde Caruana is currently in Germany for talks aimed at ensuring Malta is not greylisted by the Financial Action Task Force (FATF), ahead of a vote next week that will decide Malta’s fate. On Tuesday, the FATF’s International Cooperation Review Group (ICRG) – composed...
The Malta Financial Services Authority (MFSA) has significantly increased its intervention on the financial services industry. According to the regulator’s annual report, it carried out 52 enforcement actions in the 12-month period, resulting in a total of €975,462 in fines. This is a large rise compared to...
Despite the unfavourable circumstances brought by the Covid-19 pandemic, the financial services sector last year saw an increase of 5.5% in real Gross Value-Added rate, which grew to €1.028 billion in 2020.An overview of the financial sector in 2020 was given in the Malta Financial...
Malta yesterday endured a review of its anti-money laundering rules and protocols by the Financial Action Task Force (FATF), after tough weeks of questioning by international assessors. The FATF’s International Co-operation Review Group (ICRG) analysed Malta’s anti-money laundering rules after its recent Moneyval assessment. Based upon...
The Financial Intelligence Analysis Unit has published a list of all government jobs whose authority and control on vast amounts of money and influence, qualifies them as political exposed persons (PEPs) The list, drawn up on advice of the National Co-ordinating Committee on Combating Money Laundering...
Over twenty countries are backing Malta to not be grey-listed at the FATF following a shake-up of the financial and legal frameworks over the past 18 months, however it is believed three countries are pushing for the country to be grey-listed. It is understood that despite...
On June 10, the Governing Council of the European Central Bank decided to confirm its very accommodative monetary policy stance. The interest rate on the main refinancing operations (MRO) and the interest rates on the marginal lending facility and the deposit facility will remain unchanged at...
As the G7 nations agreed to set a global minimum corporate tax rate of 15%, Finance Minister Clyde Caruana pledged that he would not surrender Malta’s low tax regime, but suggested that the issue was more complex than simply resisting any changes. Caruana was giving an...