Regulatory Alerts2017-07-14
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 under the FIAU Implementing Procedures (Part I), specifically Chapter 8, Section 8.1, 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. Licence holders must consider two FATF public statements from June 2017: one identifying high-risk and non-cooperative jurisdictions subject to counter-measures, and another identifying jurisdictions with ongoing action plans. These obligations apply to any business undertaken with the jurisdictions listed in those FATF statements.