The Malta Financial Intelligence Analysis Unit released its annual report, highlighting the regulator’s oversight activities for the year 2021 to 2022 and its efforts to implement the recommendations of the Financial Action Task Force.
The Financial Action Task Force took Malta off a watchlist of countries with lax anti-money laundering regimes Friday, and took steps to restrict Russia’s role and influence in the organization in response to the country’s brutal invasion of Ukraine.
EU designates Russia’s Eurobond settlement platform, FATF appoints new executive secretary, and more, in the weekly roundup.
The Malta Financial Intelligence Analysis Unit issued an administrative measure imposing a €244,679 fine on the St. Julian’s, Malta-based investment services provider after an offsite compliance review uncovered violations of the Prevention of Money Laundering and Funding of Terrorism Regulations.
The Financial Intelligence Analysis Unit issued imposed a €20,145 fine on an unnamed corporate service provider that failed to identify and verify the beneficial owner of a corporate customer, among other breaches of the Prevention of Money Laundering and Funding of Terrorism Regulations.
|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|