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ARTICLE · 03 SEPTEMBER 2020

Publication Of FIAU Interpretative Note For Lawyers

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On 26 August 2020, the Malta Financial Intelligence Analysis Unit (FIAU) published its 'Interpretative Note: Relevant Activity for Lawyers' (the Interpretative Note)...

MaltaGovernment, Public Sector
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On 26 August 2020, the Malta Financial Intelligence Analysis Unit (FIAU) published its 'Interpretative Note: Relevant Activity for Lawyers' (the Interpretative Note) designed to guide legal professionals in determining the conditions under which a 'relevant activity' in terms of Malta's AML/CFT legislative framework may arise. Being able to ascertain these conditions is of paramount importance, given that obligations under the applicable AML legislation will only apply where a legal professional carries out a relevant activity. When the activity in question falls outside the statutory definition of relevant activity, the legal professional carrying out such activity would not be considered a subject person for the purpose of the applicable AML legislation.

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