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Anti-money laundering ( AML ) compliance plays a vital role in safeguarding the integrity of the financial system and protecting it from criminal abuse. For professionals, such as notaries, real estate agents, auditors, and corporate service providers, collectively considered 'subject persons' under Malta's Prevention of Money Laundering and Funding of Terrorism Regulations ( PMLFTR ) (S.L.373.01), understanding AML regulations is essential. This blog post will explore the ke

Real estate is one of the top global channels for money laundering favoured by criminals. It allows for large amounts of money to be transferred in a single transaction making it a highly attractive vehicle for laundering illicit funds. Over the last four years, more than €200,000 in administrative penalties were imposed across the real estate sector in Malta, with fines ranging from €20,000 to €50,000 per notary or real estate agent for failures in AML compliance. Most Commo

I recently attended a FATF webinar on promoting financial inclusion through the risk-based approach to AML/CFT. Key takeaways included the importance of proportional measures, encouragement of simplified measures, and the need for alignment between supervisors and subject persons. Applying the risk-based approach thoughtfully helps protect the financial system while avoiding unnecessary burdens on clients. For practical guidance or support with transactions and CDD, reach ou