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We will work hard until the last minute – Clyde Caruana

In 2019, Moneyval’s assessment of our financial regulatory framework painted a picture of a country which had a passable foundation to combat financial crime but which came up short in many important pillars in the systems in place. These areas were lacking for many years, under...

IFSP Position: Consider the progress achieved!

Malta has made substantial progress over the past years to address concerns about the effectiveness of its anti-money laundering regime, as demonstrated by the MONEYVAL follow-up report issued on 27 May 2021. Malta has now been found to be either largely compliant or fully compliant...

EU ministers baulk at banking reform

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...

Regulatory fines in Malta skyrocketed in 2020

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...

Malta decision on FATF grey-listing fate expected for 23 June

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...

Who is a PEP? Financial intelligence unit lists all government roles

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...

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