Malta: Financial Services Authority Publishes Financial Intelligence Analysis Unit's Revised Implementing Procedures Part I

On July 23, 2019, the Malta Financial Services Authority (MFSA) announced by way of a circular that the Financial Intelligence Analysis Unit (FIAU) has published revisions to the Implementing Procedures Part I. The revisions reflect recent changes to the Prevention of Money Laundering Act and the Prevention of Money Laundering and Funding of Terrorism Regulations, both of which were amended to implement the 4th Anti-Money Laundering Directive (4th AMLD). 

The revisions also reflect the conclusions from a public consultation on the subject held from October 2018 to December 2018.

Among other things, the revised Implementing Procedures Part I further explain and amend current procedures regarding the following:

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