MaltaThe Financial Intelligence Analysis Unit of Malta announced that it will hold a remote training session to help regulated persons understand the anti-money laundering and counterterrorist financing supervisory examination process.
The Financial Intelligence Analysis Unit of Malta issued a guidance note that provides details concerning a number of transaction monitoring obligations under the Prevention of Money Laundering and Funding of Terrorism Regulations, including the obligation to carry out ongoing monitoring.
European AML Enforcement Plateaued Last Year
Enforcement of anti-money laundering rules trended slightly downward in Europe in 2022, but blockbuster, financial crime-related criminal penalties and settlements in France and the United Kingdom buoyed the overall drop in AML regulatory actions.
U.S. and British officials blacklist alleged Hezbollah financier, Silk Road Bitcoin thief sentenced, and more, in the midweek roundup.
Malta Court Ruling Shackles AML Regulator
The Financial Intelligence Analysis Unit of Malta issued a €279,756 fine against the Gzira, Malta-based financial institution for violations of the Prevention of Money Laundering and Funding of Terrorism Regulations related to ongoing transaction monitoring and customer risk assessments.
The Malta Financial Intelligence Analysis Unit issued an administrative penalty of €9,010 on an unnamed regulated accountancy and auditing entity for violating the Prevention of Money Laundering and Funding of Terrorism Regulations.
| Technical | Effectiveness |
|---|---|
| Compliant : 12 | High : 0 |
| Largely Compliant : 28 | Substantial : 2 |
| Partially Compliant : 0 | Moderate : 6 |
| Non-Compliant : 0 | Low : 3 |
Malta's technical compliance was re-rated in a May 27, 2021 follow-up report
| Rank : 64/110 |
| Score : 5.45/10 |
| Rank : 49/180 |
| Score : 54/100 |
| Rank : 18/133 |
| Score : 62/100 |