Share on LinkedInShare on LinkedIn

ARTICLE · 05 SEPTEMBER 2014

Customer Due Diligence – One Size Fits All?

Fenech & Fenech Advocates
Fenech & Fenech Advocates
Contributor
Fenech & Fenech Advocates

Fenech & Fenech Advocates

Fenech & Fenech Advocates is the longest standing law firm in Malta, and its foundation traces back...

View firm profile
Explore more from Fenech & Fenech Advocates

We live, today, within a global economy – one which allows for the easy and immediate transfer of funds from one financial institution to another.

MaltaFinance and Banking
Sarah Fenech
Sarah Fenech
Author LinkedIn connections

We live, today, within a global economy – one which allows for the easy and immediate transfer of funds from one financial institution to another. This has inevitably facilitated the way in which proceeds can be laundered internationally.

In my previous article entitled 'Anti-Money Laundering – Know your customer!', I highlighted the importance of customer due diligence ('CDD') procedures and delved into the standard elements thereof as the general archetype for all subject persons to follow, as per the Prevention of Money Laundering and Funding of Terrorism Regulations, 2008 (the 'Regulations'). Today, I seek to follow from such discussion placing particular focus, however, on the extent of CDD required to be undertaken by subject persons.

We operate a free-to-view policy, asking only that you register in order to read all of our content. Please login or register to view the rest of this article.

Register for freeORLog in

Related Articles

Legal Intelligence Newsletters: sign up for the latest legal and regulatory news on your chosen topics

Read more about

Related Comparative Guides

See more popular content from

Article

Publication Of Commission Delegated Regulation Implementing Key Prospectus Reforms Under The EU Listing Act

The European Commission has published new delegated regulations amending the EU prospectus disclosure regime, introducing streamlined content requirements and standardized formats for various categories of prospectuses. These reforms, part of the broader EU Listing Act package, aim to reduce regulatory burdens for issuers while maintaining investor protection, with key changes including reduced historical financial information requirements and simplified disclosure obligations.
European UnionFinance and Banking
Ganado Advocates
Ganado Advocates
Article

CRD VI And Cross-Border Lending: What Third-Country Credit Institutions Need To Know

The European Union's Sixth Capital Requirements Directive introduces a groundbreaking EU-wide framework requiring third-country credit institutions to establish authorised branches when providing core banking services within the EU. This new regime, effective January 2027, replaces the previous patchwork of national rules with harmonised supervisory standards, though several exemptions and transitional protections apply to existing arrangements.
MaltaFinance and Banking
Camilleri Preziosi
Camilleri Preziosi
Article

FinXP Launches New Positioning As It Expands Payments Infrastructure Offering

FinXP, an MFSA-licensed Electronic Money Institution, has unveiled a new market positioning that emphasizes its expanded role as a payments infrastructure provider for fintechs and online platforms. The company now offers Banking-as-a-Service, card issuing, and BIN sponsorship alongside its traditional payment processing services, backed by independent ownership, direct SEPA access through CENTROlink, and a flexible approach to client onboarding that goes beyond standard automated criteria.
MaltaFinance and Banking
Finance Malta
Finance Malta