The current situation in Ukraine has once more brought to the fore the importance of ensuring that all subject persons adhere to their obligations arising from the National Interest (Enabling Powers) Act and from the Prevention of Money Laundering and Funding of Terrorism Regulations, as complemented and expanded upon by the Implementing Procedures.  To this end, the Financial Intelligence Analysis Unit has issued a Guidance Note addressed to all subject persons on sanctions, anti-money laundering and counter-funding of terrorism obligations (AML/CFT) and the interplay between the two.  The said Guidance Note can be accessed here.

Subject persons are invited to keep abreast of developments, including keeping themselves updated as to the latest sanctions and restrictive measures imposed by the European Union.  Information on these measures can be accessed through the following dedicate webpage maintained by the Sanctions Monitoring Board (SMB) here.

In addition, subject persons are invited to consult the FIAU’s Guidance Note to better understand how sanctions influence and interact with their AML/CFT obligations.  This Guidance Note complements the one recently issued by the SMB on the imposition of European Union sanctions concerning restrictive measures in respect of actions undermining or threatening the territorial integrity, sovereignty and independence of Ukraine.  This latter document is accessible through the following link.

Any questions relative to this Guidance Note and AML/CFT should be forwarded via email on the following email address – queries@fiaumalta.org.  Where the query relates to sanctions, subject persons are to seek directions from the Sanctions Monitoring Board. Queries may be sent by email on the following email address – sanctions.mfea@gov.mt.