Financial Crime World

MALTA: Understanding Financial Crime in a Changing Regulatory Landscape

In today’s complex financial landscape, financial crime compliance has become a critical area of focus for organisations operating in Malta. The Board of Directors is ultimately responsible for establishing the organisation’s financial crime framework, taking into account the ever-evolving regulatory environment and increasing scrutiny by regulators.

What is Financial Crime?

Financial crime encompasses a wide range of issues, including:

  • Sanctions
  • Anti-money laundering (AML)
  • Counter-terrorism financing (CTF)
  • Whistleblowing
  • Market abuse
  • Insider dealing
  • Bribery
  • Corruption

A robust anti-financial crime framework and sound governance practices are essential to mitigating these risks.

Tailoring Your Approach

Organisations operating in Malta must tailor their financial crime compliance approach to the specific sector they operate in. There is no one-size-fits-all solution, and policies, procedures, and internal controls must be designed with a deep understanding of the relevant risks faced by the organisation.

Ganado Advocates: A Leading Law Firm in Financial Crime Compliance

Ganado Advocates, a leading law firm in Malta’s financial services sector, has extensive expertise in financial crime compliance. Our team of dedicated lawyers and professionals has advised numerous clients, including:

  • Banks
  • Payment institutions
  • Trustees
  • Funds
  • Fund managers
  • Fund administrators
  • Corporate service providers

Our comprehensive range of services includes:

  • Providing legal advice on compliance with statutory requirements under AML legislation, regulations, and implementing procedures
  • Advising on restrictive measures pursuant to sanctions issued by the United Nations Security Council and the European Union

Compliance Obligations

  • Assisting with compliance obligations arising under the Market Abuse Regulation framework
  • Drafting and reviewing financial crime-related policies and procedures, including governance frameworks covering areas such as anti-money laundering and funding of terrorism, sanctions, whistleblowing, market abuse

Business Risk Assessments and Customer Risk Assessments

  • Drawing up ML/FT business risk assessments and customer risk assessments

Support Services

  • Assistance in preparation for and during compliance visits, as well as ongoing support throughout the process
  • Representing clients before regulators
  • Assisting with appeals or similar proceedings
  • Establishing and implementing remediation plans
  • Conducting health checks and internal audits
  • Presenting to the Board of Directors
  • Providing staff training

As a market leader in financial services, Ganado Advocates is well-positioned to provide bespoke solutions for organisations seeking to establish a robust financial crime compliance framework. Our expertise ensures that clients receive tailored guidance and support to navigate the complex regulatory landscape and mitigate financial crime risks.