FIAU Press Release on Errata Corrige – Guidance Note on obtaining Source of Wealth Information related to Parties other than the Customer.

22^nd September 2023 –

The FIAU informs subject persons that the Guidance Note in mention has been amended to correctly quote Regulation 11(5) of the Prevention of Money Laundering and Funding of Terrorism Regulations (“PMLFTR”), where reference is made to situations where the customer’s beneficial owner is a politically exposed person. In the original document, reference to Regulation 11(6) of the PMLFTR was included because of a typo mistake, and this error has now been rectified accordingly.

The Guidance note can be accessed from the following link:

https://fiaumalta.org/wp-content/uploads/2023/09/20230920_SOW-Third-Parties_Final_Formatted-1.pdf

The full press release can be accessed through this link:

https://fiaumalta.org/news/errata-corrige-guidance-note-on-obtaining-source-of-wealth-information-related-to-parties-other-than-the-customer/

Don’t hesitate to contact us here, if you require any further explenations regarding the the Guidance.