Malta announced that Minister for Foreign and European Affairs Evarist Bartolo discussed efforts to strengthen the fight against international financial crime with Minister of State for Foreign Affairs of the United Arab Emirates Anwar Gargash.
The Financial Intelligence Analysis Unit published amended Implementing Procedures – Part II concerning the application of anti-money laundering and counterterrorist financing to the virtual financial assets, pursuant to the Prevention of Money Laundering and Funding of Terrorism Regulations.
European authorities have launched proceedings against Cyprus and Malta following the latest revelations of criminal abuse of citizenship-by-investment programs in the EU’s two southernmost jurisdictions, and opened an inquiry into Bulgaria, which offers a similar scheme.
Mexican FIU freezes hundreds of bank accounts, FinCEN details red flags of unemployment insurance fraud, and more, in the midweek roundup.
Malta’s Financial Intelligence Analysis Unit fined an unnamed company service provider €35,000 for poor customer risk assessments.
Malta’s Financial Intelligence Analysis Unit issued a penalty against a notary public, whose name has not been made public, for lacking a documented business risk assessment at the time of an onsite examination.
|Compliant : 10||High : 0|
|Largely Compliant : 21||Substantial : 2|
|Partially Compliant : 9||Moderate : 6|
|Non-Compliant : 0||Low : 3|
|Rank : 53/141|
|Score : 5.48/10|
|Rank : 50/180|
|Score : 54/100|
|Rank : 18/133|
|Score : 62/100|