Malta Seeks To Apply AML And Terrorism Funding Provisions To Law

Financial Intelligence Analysis Unit publishes revised version of Prevention of Money Laundering and Funding of Terrorism Regulations (PMLFTR) and seeks feedback

The publication of a revised version of the Maltese Financial Intelligence Analysis Unit’s (FIAU)  “Prevention of Money Laundering and Funding of Terrorism Regulations” (PMLFTR) seeks to transpose into Maltese law various provisions of Directive (EU) 2015/849 of the European Parliament and of the Council of 20 May 2015 on the prevention of the use of the financial system for the purposes of money laundering or terrorist financing (4th AMLD).

“The changes introduced by the 4th AMLD take into account the new recommendations adopted by the Financial Action Task Force (FATF) and seeks to bring European legislation in line with international standards in combating money laundering and the funding of terrorism as well as strengthen the integrity of the financial system and the internal market as a whole”.

Published on the Malta Gaming Authority’s website, the FIAU “strongly encourages subject persons to read the proposal in its entirety” and provide comments and feedback by no later than August 7, 2017.

The full consultation document can be accessed here: http://www.mga.org.mt/wp-content/uploads/Consultation-Document-PMLFTR-2017.pdf