MALTA FIAU INTERPRETATIVE NOTE ON “RELEVANT ACTIVITY” FOR LAWYERS AND AML/CFT

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.

https://fiaumalta.org/wp-content/uploads/2020/08/Interpretative-Note-Relevant-Activity-Lawyers.pdf

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

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s