Log in or register
Share on LinkedInShare on LinkedIn

ARTICLE · 21 AUGUST 2023

FIAU Guidance Note: Transaction Monitoring Obligations

Camilleri Preziosi
Camilleri Preziosi
Contributor
Camilleri Preziosi

Camilleri Preziosi

Camilleri Preziosi shares a commitment to deliver considered and practical outcomes and add value...

View firm profile
Explore more from Camilleri Preziosi

On 11 April 2023, the Financial Intelligence Analysis Unit (the "FIAU") published a comprehensive guidance note on the transaction monitoring obligations of subject persons...

MaltaFinance and Banking
Kirsten Debono Huskinson
Kirsten Debono Huskinson
Kyra Sammut
Kyra Sammut
Peter Mizzi
Peter Mizzi
Author LinkedIn connections

On 11 April 2023, the Financial Intelligence Analysis Unit (the "FIAU") published a comprehensive guidance note on the transaction monitoring obligations of subject persons, specifically aimed at institutions that process payments and similar transactions on behalf of customers, including banks, electronic money (e-money) institutions, payment service providers (PSPs), and merchant acquiring companies.

The guidance note provides subject persons with an understanding of the FIAU's expectations with respect to transaction monitoring, addresses certain misconceptions and highlights common transaction monitoring findings identified throughout enforcement and follow-up processes.

The guidance note outlines, inter alia, several non-exhaustive key components of an effective transaction monitoring program, including:

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

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.

View source

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

EBA Publishes The Final Guidelines On The Sound Management Of Third-party Risk Regarding Non-ICT Services

The European Banking Authority has issued comprehensive guidelines addressing how financial institutions must manage risks associated with third-party service providers for non-ICT services. These new requirements expand beyond previous outsourcing frameworks, introducing broader applicability and more detailed governance standards for critical and important functions.
European UnionFinance and Banking
Ganado Advocates
Ganado Advocates
Article

AIFMD II Opens The Door To Loan Origination Funds In Malta

With AIFMD II now transposed into Maltese law, fund promoters, asset managers and family offices have access to new regulatory pathways for establishing loan origination and private credit vehicles in Malta. The revised framework expressly permits corporate lending by Alternative Investment Funds, while the updated NAIF regime brings loan origination within scope, opening doors to EU-wide distribution through the AIFMD marketing passport.
MaltaFinance and Banking
Finance Malta
Finance Malta
Article

How Do Funds Differ Between Payment Institutions And Electronic Money Institutions?

Payment Institutions and Electronic Money Institutions handle customer funds differently under EU law. While Payment Institutions use payment accounts for short-term transaction processing, Electronic Money Institutions store monetary value indefinitely in digital wallets. Understanding the legal distinction between these account types is crucial for fintech companies navigating PSD2 and EMD2 compliance requirements.
MaltaFinance and Banking
MK Fintech Partners
MK Fintech Partners
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

The Commission’s EU Public Procurement Act Proposal

The European Commission has proposed a comprehensive overhaul of EU public procurement rules through the EU Public Procurement Act, consolidating three existing directives into a single framework. This reform introduces the principle of "best quality for money," strengthens strategic procurement requirements including green and social considerations, and establishes new digital infrastructure for cross-border procurement data sharing.
European UnionGovernment, Public Sector
Camilleri Preziosi
Camilleri Preziosi
Article

MAR Update: New Simplified Insider List Templates Now In Force

The European Commission has introduced revised implementing technical standards for insider list formats under the Market Abuse Regulation, significantly reducing administrative burdens by removing several personal data fields and extending simplified formats to all issuers. These changes, which entered into force on 5 July 2026, require issuers to update their insider list templates while maintaining core compliance obligations for tracking individuals with access to inside information.
MaltaCorporate/Commercial Law
Camilleri Preziosi
Camilleri Preziosi