MALTA: MFSA ANNUAL REPORT – NEW AML TEAM PROBES 25 FRESH CASES

The Times of Malta on 11 May reported on the Malta Financial Services Authority annual report, saying that a new specialised team of international experts has been set up by the financial regulator to combat money laundering, handling 25 new cases last year. In the report, chief executive Joseph Cuschieri said the team was established to improve oversight of firms’ AML/CFT compliance.  The team is led by Anthony Eddington, the new head of financial crime compliance at the MFSA, formerly of the UK FCA who joined the MFSA from Deutsche Bank, UK.  The team last year reviewed 35 enforcement cases from 2018 and opened 105 new cases. The report says 78 cases were closed.  Of the new cases, 25 were focussed on money laundering.

The annual report is available at –

https://www.mfsa.mt/wp-content/uploads/2020/05/Malta-Financial-Services-Authority-Annual-Report-2019.pdf

https://timesofmalta.com/articles/view/mfsas-new-anti-money-laundering-team-probes-25-fresh-cases.791327

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Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section

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