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ARTICLE · 16 OCTOBER 2020

FIAU Publishes Revised Version Of Implementing Procedures – Part II For The Virtual Financial Asset Sector

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On 18 September 2020 the Financial Intelligence Analysis Unit (the "FIAU") published a revised version of the Implementing Procedures – Part II

MaltaGovernment, Public Sector
Daniela Gaffarena
Daniela Gaffarena
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On 18 September 2020 the Financial Intelligence Analysis Unit (the "FIAU") published a revised version of the Implementing Procedures – Part II on the 'Application of Anti-Money Laundering and Countering the Funding of Terrorism Obligations to the Virtual Financial Assets Sector'(the 'VFA Procedures').

The newly introduced changes relate to:

  • The submission of Suspicious Transaction Reports ('STRs'):-

Following amendments to the 'Prevention of Money Laundering and Funding of Terrorism Regulations' (Subsidiary Legislation 373.01 of the Laws of Malta), STRs should be promptly submitted to the FIAU.  Save for the exceptions as provided in the 'Implementing Procedures – Part I', STRs should be submitted on the same day when the Money Laundering Reporting Officer knows or suspects money laundering or funding of terrorism; and

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