ARTICLE · 30 JULY 2021

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Anti-Money Laundering And Counter Financial Terrorism

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On the 21st day of July 2021, the MFSA distributed a circular with the focal intent to inform Financial Market Participants and all Financial Advisors that on the 20th day of July 2021...

MaltaGovernment, Public Sector

Bjorn Camilleri

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On the 21st day of July 2021, the MFSA distributed a circular with the focal intent to inform Financial Market Participants and all Financial Advisors that on the 20th day of July 2021, the European Commission implemented and embraced a number of ambitious measures in order to further regulate the use of the financial system for the purposes of money laundering and terrorist financing.

The relevant adopted measure consists of mainly four legislative enhancements.

New AML Rule Book

It is being proposed that a new Anti-Money Laundering Rule Book shall be introduced. This book shall precisely and comprehensively define the customer due diligence requirements that must be applied by all relevant entities throughout the internal market.

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