The recent FATF report on Detecting and Disrupting Terrorist Financing Activity Through SMSPs highlights a structural shift in the way terrorist financing is facilitated in the digital age. Rather than relying primarily on traditional financial sy
Read more
The Financial Action Task Force (“FATF”) has launched a public consultation on its updated draft Guidance for implementing Recommendation 16. Regulators, financial institutions, virtual asset service providers (“VASPs”), and legal practiti
Read more
In June 2026, the Financial Intelligence Analysis Unit (“FIAU“) published an extensive strategic analysis examining the relationship between organised crime and the Maltese financial system. The report reviewed 540 suspicious transacti
Read more
The end of the Markets in Crypto-Assets Regulation (“MiCAR”) transitional period marks a defining moment for the European crypto-asset sector. From 1st July 2026, firms providing crypto-asset services in the European Union will need to be auth
Read more
Europol recently published the Internet Organised Crime Threat Assessment (“IOCTA”) 2026 highlighting the rapidly evolving cybercrime landscape facing businesses and financial institutions across Europe. The report identifies a significant inc
Read more
Recent developments highlighted by the Financial Intelligence Analysis Unit (“FIAU”) point towards a clear shift in the EU’s anti-money laundering framework under the 6th Anti-Money Laundering Directive (“AMLD6”): reporting is becoming
Read more
The rapid growth of the digital asset ecosystem has fundamentally reshaped the global financial landscape. Virtual assets and blockchain-based services have opened new avenues for innovation, investment, and cross-border financial activity. Howeve
Read more
The Financial Intelligence Analysis Unit (“FIAU”) has issued amendments to the Implementing Procedures Part I, introducing important clarifications in relation to employee screening and record-keeping obligations, as well as the definition of
Read more
The Maltese Financial Intelligence Analysis Unit (“FIAU”) has drawn the attention of subject persons to a newly published report by the Financial Action Task Force (“FATF”), entitled “Targeted Report on Stablecoins and Unhosted Wallets &
Read more
Modern sanctions enforcement is exposing a structural weakness across many regulated firms: an over-reliance on onboarding checks, coupled with insufficient focus on ongoing monitoring and behavioural analysis. This gap is becoming more pronounced
Read more
Sanctions compliance has undergone a fundamental shift. What was once treated as a peripheral element of AML frameworks is now emerging as a standalone, board-level risk discipline, with distinct enforcement thresholds, governance expectations, an
Read more
The Authority for Anti-Money Laundering and Countering the Financing of Terrorism (“AMLA”) has set out its Single Programming Document (“SPD”) for 2026-2028, providing the first detailed roadmap of how the new EU Authority will shape the f
Read more
The European Union’s fight against money laundering and terrorist financing has entered a new phase. What was once characterised by fragmented national supervision and uneven enforcement is steadily giving way to a more centralised, data-driven
Read more
The Financial Intelligence Analysis Unit (“FIAU”) has announced that the Financial Action Task Force (“FATF”) has published its latest updates to the lists of High-Risk Jurisdictions subject to a Call for Action and Jurisdictions under Inc
Read more
The Financial Intelligence Analysis Unit (“FIAU”) has issued a new Guidance Note for Limited (Registered) Company Service Providers (“CSPs”), providing clarity on how small-scale CSPs should meet their anti-money laundering and countering
Read more
The Financial Action Task Force (“FATF“) has released its 2025 Comprehensive Update on Terrorist Financing Risks, shedding light on emerging threats and regulatory expectations for financial service providers. For companies operating in Malt
Read more
The Malta Business Registry (“MBR”) has enacted a series of important changes to the Companies Act (Register of Beneficial Owners) Regulations, by virtue of LN 127 of 2025. These changes form part of the first phase of Malta’s transpos
Read more
A new report by the Financial Action Task Force (“FATF”) has brought renewed attention to the serious vulnerabilities in the global financial system posed by proliferation financing and sanctions evasion. Despite the critical threat that proli
Read more
On the 13th June 2025, the Financial Action Task Force (“FATF”) issued its latest ‘High-Risk Jurisdictions subject to a Call for Action’ and ‘Jurisdictions under Increased Monitoring’ documents. These documents have been uploaded on th
Read more
In the first part of this series, we explored the legal ramifications of European Union (“EU”) sanctions, focusing on the Criminalisation Directive, Malta’s role in transportation, and the importance of reporting obligations. In this second
Read more
The European Union (“EU”) has been a long-standing global leader in promoting peace, security and human rights. One of its most powerful tools to achieve these goals is through sanctions. These measures include but are not restricted to assets
Read more
On the 25th November 2022, the Malta Business Registry (“MBR”) announced that it will be limiting access to the register of ultimate beneficial owners (“UBO”) to competent authorities and subject persons only. This comes after a ruling del
Read more
The Financial Intelligence Analysis Unit (FIAU) has initiated a consultation on the revision of the Implementing Procedures – Part II for the Virtual Financial Assets (VFA) Sector. This consultation is an essential part of ongoing efforts to str
Read more
International sanctions are key tools used by the international community to regulate the behaviour of states. They aim to align state conduct with international law or to contain or prevent regional threats or conflicts without violating a countr
Read more
As per the article published earlier this year on this website, Council and Parliament Unveiling Stricter Anti-Money Laundering Rules, the European Union (the “EU”) has developed a revamped anti-money laundering (“AML”) package. On the 19t
Read more
Introductory Analysis During its June 2019 plenary meeting, the Financial Action Task Force (“FATF“) approved a significant change to one of its 40 Recommendations. Previously, Recommendation 16 required originator and beneficiary info
Read more
As part of its revised Recommendation 24 (the “Recommendation”), which was adopted in March 2022, the Financial Action Task Force (“FATF”), mandated that nations should guarantee the access for competent authorities to sufficient, accurate
Read more
On the 28th of March 2023, Members of the European Parliament (“MEPs”) from the Economic and Monetary Affairs and Civil Liberties, Justice, and Home Affairs committee approved stricter rules to close existing gaps in anti-money laundering and
Read more
The Financial Intelligence Analysis Unit (“FIAU” or the “Authority”) has informed Subject Persons that additional guidance has been published in preparation for the upcoming 2023 Risk Evaluation Questionnaire (“REQ”) conducted by the s
Read more
At the end of 2022, the Financial Intelligence Analysis Unit (“FIAU”) issued a press release to inform the industry that it has published the Implementing Procedures – Part II addressed to accountants and auditors. These Implementing Procedu
Read more
New developments regarding the proposed Anti-Money Laundering Regulation (“AMLR”) and the sixth (6th) Anti-Money Laundering Directive (“AMLD6”) have emerged with the new political agreement reached at the European Union (“EU”) Council
Read more
On the 25th November 2022, the Malta Business Registry (“MBR”) announced that it will be limiting access to the register of ultimate beneficial owners (“UBO”) to competent authorities and subject persons only. This decision follows a rulin
Read more
On the 21st of October 2022, the Financial Action Task Force (“FATF”) issued its latest ‘High-Risk Jurisdictions subject to a Call for Action’ and ‘Jurisdictions under Increased Monitoring’ documents. These documents have been uploaded
Read more
On the 19th July 2022, the Financial Intelligence Analysis Unit (“FIAU”) issued a guidance document on ‘Reporting through goAML’. This document provides clarifications on the reporting process, the reporting of transactions connected to Ir
Read more
In 2019 the Financial Action Task Force (“FATF”) extended its anti-money laundering and counter- financing of terrorism (“AML/CFT”) measures’ oversight to also cover Virtual Assets (“VAs”) and Virtual Assets Service Providers (“VAS
Read more
The role of the Money Laundering Reporting Officer (“MLRO”) is arguably one of the most frequently asked about topics when it comes to questions directed to the Financial Intelligence Analysis Unit (“FIAU”). In the course of answering and
Read more
During its last plenary session, held on the 23rd June 2021, the Financial Action Task Force (“FATF”) voted to insert Malta in its list of countries that have been identified as having strategic anti-money laundering (“AML”) deficiencies,
Read more
On the 23rd November 2020, the Malta Financial Services Authority (“MFSA”) issued a circular bringing to the attention of relevant entities the publication made by the Financial Action Task Force (“FATF”) which identifies countries which c
Read more
The Malta Financial Services Authority (“MFSA”) has issued a Guidance Paper on the 21st July 2020, providing information on the role and duties of the Money Laundering Reporting Officer (“MLRO”). The MFSA explains that all subject persons,
Read more
On the 17th July 2020, the Financial Intelligence Analysis Unit (“FIAU”) issued a Guidance Document on Funding of Terrorism (“FT”) which supplements and integrates the 2018 ‘Guidance Note on Funding of Terrorism – Red Flags and Suspici
Read more
The Financial Intelligence Analysis Unit (the “FIAU”), issued a notice on the 2nd July 2020, referring to the Financial Action Task Force’s (the “FATF”) Public statement issued on the 30th June 2020, in relation to “High-Risk Jurisdict
Read more
On the 10th June 2020, the Malta Financial Services Authority (the “MFSA”) issued a Circular addressed to all Company Service Providers (the “Circular”) regarding the Sectoral Risk Assessment and Action Plan on Legal Entities, Legal Arrang
Read more
On the 1st June 2020, the Financial Intelligence Analysis Unit (the “FIAU“) issued a notice informing involved parties that by means of Legal Notice 214 of 2020 (the “Legal Notice”), a series of amendments were made to the Preventi
Read more
The Financial Action Task Force (“FATF”) has recently issued a Guidance on Digital Identity (the “Guidance”) intended to aid governments, financial institutions, virtual asset service providers and other regulated entities to determine whe
Read more
On the 20th April 2020, the Financial Intelligence Analysis Unit (the “FIAU”) issued a notice to remind all Subject Persons to submit the Risk Evaluation Questionnaire (the “REQ”) by not later than the 4th May 2020 at 17:00. Moreover, the
Read more
On the 1 April 2020, the Financial Intelligence Analysis Unit (the “FIAU”) has released a Consultation Document relating to a series of proposed amendments to the Prevention of Money Laundering and Funding of Terrorism Regulations (the “PML
Read more
On the 24 March 2020, the Malta Financial Services Authority (the “MFSA”) issued a notice to inform licence holders regarding the recent publication of two public documents issued by the Financial Action Task Force (the “FATFR
Read more
On the 16th March 2020, the Financial Intelligence Analysis Unit (the “FIAU”) issued a number of measures as a reaction to COVID-19 outbreak, including measures in relation to the submission of the Risk Evaluation Questionnaires (“REQs&#
Read more
The following is the second part of an article which provides an overview of the major changes brought forward by the Fifth Anti-Money Laundering Directive. E-money and prepaid cards There is now increased transparency regarding e-money products b
Read more
A Review of the EU Directive 2018/843 Directive (EU) 2018/843 of the European Parliament and of the Council of 30 May 2018 amending Directive 2015/849 on the prevention of the use of the financial system for the purposes of money laundering or ter
Read more
The Malta Financial Services Authority ("MFSA") has recently issued a Circular on International Sanctions (the "Circular"). The aim of this Circular is to bring to the attention of all Financial Services Licence Holders the com
Read more
On the 14th October 2019, the Financial Intelligence Analysis Unit ("FIAU") issued a consultation on the proposed revised version of the Prevention of Money Laundering and Funding of Terrorism Regulations ("PMLFTR") in order to
Read more
A guidance note was issued in October 2019 by the Sanctions Monitoring Board ("SMB") as the competent authority for the implementation of financial sanctions in Malta (the "Guidance Note"). The Guidance Note noted that all the
Read more
The Malta Financial Services Authority (“MFSA”) has issued a circular addressed to all licence holders operating in the Financial Services industry, bringing to their attention the revised version of the Implementing Procedures Part I, recentl
Read more
Guidance Document for Credit Institutions, Payment Institutions and Electronic Money Institutions opening accounts for FinTechs On the 18th June 2019, the Malta Financial Services Authority (“MFSA”) and the Financial Intelligence Analysis Unit
Read more
As of April 16th 2019, amendments were made to the Prevention of Money Laundering and Funding of Terrorism Regulations (“PMLFTR”) upon the advice of the Financial Intelligence Analysis Unit (“FIAU”) and published as Legal Notice 77 of 2019
Read more
In light of the coming into force of the Virtual Financial Assets Act (“VFA Act”), the Financial Intelligence Analysis Unit (“FIAU”) has published a consultation document on the application of the anti-money laundering (“AML”) obligati
Read more
Further to the transposition of the Fourth Anti-Money Laundering Directive into Maltese Law the Malta Gaming Authority (“MGA”) has published an announcement that a new Anti-Money Laundering Unit has now been set up within its operational and r
Read more
On the 20th of December 2017 ‘The Trusts and Trustees Act (Register of Beneficial Owners) Regulations, 2017’ (the “Regulations”) were published. These Regulations are aimed at implementing the requirement of having the information on benef
Read more
The Fourth Anti-Money Laundering Directive (the “4th AMLD”) which came into force on the 26th June 2015, recasts the previous third Anti-Money Laundering Directive (the “3rd AMLD”) and takes into account the 40 new recommendations adopted
Read more
Legal Notice 464 of 2014 has amended the Prevention of Money Laundering and Funding of Terrorism Regulations (“PMLFTR”). The new amendments further clarify the provisions of the PMLFTR, extend the scope of the regulations and introduce
Read more