SMB Update

New Guidance Note issued by the Sanctions Monitoring Board on the listings by OFAC of Maltese individuals and entities

The SMB is strongly recommending that all Maltese economic operators and financial institutions in the Republic of Malta exercise enhanced due diligence when dealing with the persons, entities and bodies listed by the OFAC and with assets belonging to these persons, entities and bodies.

Maltese economic operators and financial institutions should keep an up-to-date record of all assets, funds and economic resources held by the said persons, entities and bodies with them.

Read the guidance here.