Regulatory Alerts2016-07-06
Added · Updated
Notice to Financial Services Licence Holders – FATF identifies jurisdictions with strategic deficiencies
The Malta Financial Services Authority directs financial services licence holders to implement measures set out in the FIAU Implementing Procedures (Part I), specifically Chapter 8, Section 1, when conducting business with jurisdictions identified by the Financial Action Task Force as having strategic anti-money laundering and combating the financing of terrorism deficiencies. This requirement applies to jurisdictions classified as high-risk or non-cooperative, as well as those with strategic deficiencies that have developed an action plan with the FATF. Licence holders must consider the risks arising from these jurisdictions as outlined in the FATF public statements from June 2016.