Compliance & AML

At the February 2022 Plenary the FATF made the initial determination that “Malta has substantially completed its action plan.” In June 2021 Malta was placed on the FATF grey list – the list of the countries under increased monitoring by the FATF. In its February 2022 plenary the FATF noted that Malta has made the following key reforms: […]

Malta last week presented the Financial Action Task Force (FATF) with an action plan to get off the regulator’s grey list of jurisdictions, according to the Times of Malta in a report today (13 September). The government presented the plan to the global watchdog during a virtual meeting on Thursday, it said. “It’s about concretely […]

The European Commission (EC) has proposed the creation of an EU-wide anti-money laundering authority (AMLA) with powers to directly supervise the highest-risk cross-border financial firms. According to Reuters, non-compliant firms could risk penalties up to EUR10 million or 10 per cent of their annual turnover. The AMLA would aim to launch in 2024. The EC […]