The FIU in Malta (as a further MONEYVAL review looms) has released this Interpretative Note designed to assist independent legal professionals to meet their obligations under the law and FIAU Implementing Procedures by explaining when a legal professional is deemed to be a subject person, and by providing an interpretation of the term ‘relevant activity’, as applicable to lawyers.  It says that although lawyers are included in the definition of relevant activity, lawyers provide a vast array of services, not all of which constitute relevant activity.  Those services that fall outside the definition of relevant activity do not trigger AML/CFT obligations.

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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