ARTICLE · 01 OCTOBER 2020

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Fighting Financial Crime Through Sanctions Screening

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Sanction screening procedures form an integral part of an anti-financial crime programme.

MaltaGovernment, Public Sector

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Compliance with national and international sanctions regime is an obligation which all persons have in order to ensure that that the measures which have been imposed by national and international bodies on individuals, companies and territories remain effective.

In order to ensure that this is the case, the National Interest (Enabling Powers) Act ("National Interest Act") imposes an obligation on persons undertaking a 'relevant activity' or a 'relevant financial business' in terms of the Prevention of Money Laundering and Funding of Terrorism Regulations, 2018 ("PMLFTR") to implement adequate and effective screening procedures to ensure compliance with the obligations arising from the National Interest Act and any relevant United Nations or European Union resolutions or regulations.

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