What is the current anti-money laundering situation in Malta? How do the Maltese islands combat this? Why are Maltese banks and financial institutions adopting the 4th Anti-money laundering (AML) directive?
Since Malta is located very close to Italy, in recent years, Malta was vulnerable and exposed to high profile cases of illegal gaming companies setting up in our shores to pay taxes legally in Malta by layering proceeds in betting shops in Italy.
Although it was known that this was bound to happen one day, it created havoc in Malta, partly resulting in banks closing for business and adopting strict measures.
So, what are institutions doing to monitor cases related to such money laundering and also terrorist financing?
Our Founder and CEO, Mr. Adrian Sciberras, FCCA, MIA, CPA, LL.B.(Hons)(Melit.) explores the instruments used in AML investigations such as the Prevention of Money Laundering Act.
Click ‘download’ below to read the full article.
For more information, you can get in touch directly with Mr. Adrian Sciberras on firstname.lastname@example.org