Financial Crime World

Financial Crime Plagues Malta: A Growing Concern that Requires Collective Effort

Financial crime, particularly money laundering and terrorist financing, has become a persistent threat globally over the past decade. Its methods have evolved to become increasingly sophisticated, prompting regulatory authorities to step up their scrutiny of financial institutions.

Malta’s Efforts to Combat Financial Crime

Malta is not immune to this global phenomenon. The country acknowledges that there is room for improvement in its efforts to protect the system from illicit funds. To address this issue, the Malta Financial Services Authority (MFSA) will be hosting a half-day refresher session aimed at assisting Maltese entities in safeguarding themselves against financial crime.

Key Topics Covered

The session, open to Money Laundering Reporting Officers, Nominated Persons, Senior Compliance Officers, and other interested executives of Companies, Trustees, and Fiduciaries, will cover the following modules:

  • Overview of financial crime
  • Manifestations of financial crime in Malta
  • MFSA’s risk mitigation expectations for entities operating in the country
  • Authority’s approach to conducting financial crime-related inspections

Interactive Session

The session will also provide ample opportunity for attendees to address specific questions and concerns. By attending this refresher session, Maltese entities can gain a deeper understanding of the financial crime landscape and take proactive steps to strengthen their defenses against money laundering and terrorist financing.

Commitment to Protecting Malta’s Financial System

The MFSA’s commitment to supporting these efforts underscores its dedication to protecting the integrity of Malta’s financial system. The authority recognizes that combating financial crime requires collective effort, and this refresher session is an essential step towards achieving this goal.

By participating in this session, Maltese entities can:

  • Gain a deeper understanding of financial crime and its manifestations in Malta
  • Learn about the MFSA’s risk mitigation expectations and approach to conducting inspections
  • Take proactive steps to strengthen their defenses against money laundering and terrorist financing
  • Address specific questions and concerns related to financial crime prevention