The Financial Intelligence Analysis Unit (FIAU) would like to inform subject persons that the EBA has issued guidelines on the application of AML/CFT rules in the context of remote customer onboarding. The guidelines were published following a public consultation which took place between the 10th of December 2021 and the 10th of March 2022. 

This publication provides further clarity on the application of the remote customer onboarding Customer Due Diligence (CDD) processes as generally outlined in Directive (EU) 2015/849 (Fifth AML Directive).

During these past years, the demand for remote onboarding of customers has increased considerably, especially due to the COVID-19 pandemic. In view of this, and to fulfil the subject persons` AML/CFT obligations, consistent and efficient methods and processes for remote onboarding of customers became necessary.

The guidelines establish:

1. The forms of new technologies that are appropriate, adequate, and reliable when financial institutions accept customers remotely, whilst respecting the principle of technological neutrality.
2. The parameters that need to be followed through by financial institutions when adopting new technologies for remote customer onboarding. Such as: internal policies and procedures, governance, pre-implementation assessment and ongoing monitoring.
3. The approved remote customer onboarding digital documentation.
4. The circumstances when reliance on third parties and outsourcing can take place.

These Guidelines will enter into force 6 months after the publication in all EU official languages.

Subject persons can access the document by clicking on the link on the FIAU website or the link on the EBA website.

Human Rights Regime

• Council Implementing Regulation (EU) 2022/2374 of 5 December 2022 implementing Regulation (EU) 2020/1998 concerning restrictive measures against serious human rights violations and abuses

On 7 December 2020, the Council adopted Regulation (EU) 2020/1998. Pursuant to Article 14(4) of Regulation (EU) 2020/1998, the Council has reviewed the list of natural or legal persons, entities or bodies subject to restrictive measures set out in Annex I to that Regulation. On the basis of that review, the entries concerning six natural persons and two entities should be updated. Annex I to Regulation (EU) 2020/1998 has therefore been amended accordingly.

Read more.

Please be reminded that all EU/UN sanctions are directly applicable under Maltese law under the National Interest (Enabling Powers) Act, cap 365 of the Laws of Malta as linked here.

Should any of your clients be a person or entity who is listed under UN/EU or national sanctions or who is directly or indirectly owned or controlled by a listed person or entity, the freezing measures mentioned under Article 17 of the Act apply.

The Sanctions Monitoring Board is to be informed immediately of the actions that have been taken in relation to the assets of such listed persons.

The Sanctions Monitoring Board may be contacted on sanctions.mfea@gov.mt on any issue relating to sanctions.

Please find below links to the:

EU Financial Sanctions Database

Consolidated UN Sanctions List

EU Sanctions Map

Sanctions Monitoring Board

Ukraine Regime

• Council Decision (CFSP) 2022/2369 of 3 December 2022 amending Decision 2014/512/CFSP concerning restrictive measures in view of Russia’s actions destabilising the situation in Ukraine

On 31 July 2014, the Council adopted Decision 2014/512/CFSP (1). The Union remains unwavering in its support for Ukraine’s sovereignty and territorial integrity. Decision 2014/512/CFSP has therefore been amended accordingly.

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• Council Regulation (EU) 2022/2367 of 3 December 2022 amending Regulation (EU) No 833/2014 concerning restrictive measures in view of Russia’s actions destabilising the situation in Ukraine

On 31 July 2014, the Council adopted Regulation (EU) No 833/2014 (2), concerning restrictive measures in view of Russia’s actions destabilising the situation in Ukraine. Regulation (EU) No 833/2014 gives effect to certain measures provided for in Council Decision 2014/512/CFSP. Regulation (EU) No 833/2014 including Annex XXVII, has therefore been amended accordingly.

Read more below:

Council Regulation (EU) 2022/2367

Commission Implementing Regulation (EU) 2022/2368

Please be reminded that all EU/UN sanctions are directly applicable under Maltese law under the National Interest (Enabling Powers) Act, cap 365 of the Laws of Malta as linked here.

Should any of your clients be a person or entity who is listed under UN/EU or national sanctions or who is directly or indirectly owned or controlled by a listed person or entity, the freezing measures mentioned under Article 17 of the Act apply.

The Sanctions Monitoring Board is to be informed immediately of the actions that have been taken in relation to the assets of such listed persons.

The Sanctions Monitoring Board may be contacted on sanctions.mfea@gov.mt on any issue relating to sanctions.

Please find below links to the:

EU Financial Sanctions Database

Consolidated UN Sanctions List

EU Sanctions Map

Sanctions Monitoring Board

Haiti Regime

• Council Regulation (EU) 2022/2309 of 25 November 2022 concerning restrictive measures in view of the situation in Haiti

On 21 October 2022, the United Nations Security Council adopted Resolution 2653 (2022) which establishes a framework for targeted restrictive measures in view of the situation in Haiti. In accordance with this Resolution, on 25 November 2022, the Council adopted Decision (CFSP) 2022/2319, which provides for travel restrictions, a targeted arms embargo, the freezing of funds and economic resources of, and a prohibition to make funds and economic resources available to, persons, entities or bodies engaged in or supporting gangs involved in violence, criminal activities or human rights abuses which undermine the peace, stability and security of Haiti and the region.

Read more.

Please be reminded that all EU/UN sanctions are directly applicable under Maltese law under the National Interest (Enabling Powers) Act, cap 365 of the Laws of Malta as linked here.

Should any of your clients be a person or entity who is listed under UN/EU or national sanctions or who is directly or indirectly owned or controlled by a listed person or entity, the freezing measures mentioned under Article 17 of the Act apply.

The Sanctions Monitoring Board is to be informed immediately of the actions that have been taken in relation to the assets of such listed persons.

The Sanctions Monitoring Board may be contacted on sanctions.mfea@gov.mt on any issue relating to sanctions.

Please find below links to the:

EU Financial Sanctions Database

Consolidated UN Sanctions List

EU Sanctions Map

Sanctions Monitoring Board

Democratic Republic of the Congo Regime

• Council Decision (CFSP) 2022/2241 of 14 November 2022 amending Decision 2010/788/CFSP concerning restrictive measures in view of the situation in the Democratic Republic of the Congo

On 20 December 2010, the Council adopted Decision 2010/788/CFSP (1) concerning restrictive measures in view of the situation in the Democratic Republic of the Congo (‘DRC’) regarding United Nations Security Council Resolution 2641 (2022). Decision 2010/788/CFSP should therefore be amended accordingly.

Read more.

Please be reminded that all EU/UN sanctions are directly applicable under Maltese law under the National Interest (Enabling Powers) Act, cap 365 of the Laws of Malta as linked here.

Should any of your clients be a person or entity who is listed under UN/EU or national sanctions or who is directly or indirectly owned or controlled by a listed person or entity, the freezing measures mentioned under Article 17 of the Act apply.

The Sanctions Monitoring Board is to be informed immediately of the actions that have been taken in relation to the assets of such listed persons.

The Sanctions Monitoring Board may be contacted on sanctions.mfea@gov.mt on any issue relating to sanctions.

Please find below links to the:

EU Financial Sanctions Database

Consolidated UN Sanctions List

EU Sanctions Map

Sanctions Monitoring Board

Venezuela Regime

• Council Implementing Regulation (EU) 2022/2194 of 10 November 2022 implementing Regulation (EU) 2017/2063 concerning restrictive measures in view of the situation in Venezuela

The Council has reviewed the restrictive measures in place in accordance with Article 17(4) of Regulation (EU) 2017/2063. Based on that review, the restrictive measures against all persons in the list set out therein will be maintained, and the statement of reasons for 17 persons will be updated.

Read more.

Please be reminded that all EU/UN sanctions are directly applicable under Maltese law under the National Interest (Enabling Powers) Act, cap 365 of the Laws of Malta as linked here.

Should any of your clients be a person or entity who is listed under UN/EU or national sanctions or who is directly or indirectly owned or controlled by a listed person or entity, the freezing measures mentioned under Article 17 of the Act apply.

The Sanctions Monitoring Board is to be informed immediately of the actions that have been taken in relation to the assets of such listed persons.

The Sanctions Monitoring Board may be contacted on sanctions.mfea@gov.mt on any issue relating to sanctions.

Please find below links to the:

EU Financial Sanctions Database

Consolidated UN Sanctions List

EU Sanctions Map

Sanctions Monitoring Board

Mali Regime

• Council Implementing Resolution (EU) 2022/2179 of 8 November 2022 implementing Regulation (EU) 2017/1770 concerning restrictive measures in view of the situation in Mali

On 28 September 2017, the Council adopted Regulation (EU) 2017/1770. On 5 October 2022, the United Nations Security Council (‘UNSC’) Committee established pursuant to UNSC Resolution 2374 (2017) updated the information relating to three individuals subject to restrictive measures. Annex I to Regulation (EU) 2017/1770 has therefore been amended accordingly.

Read more.

Democratic People’s Republic of Korea Regime

• Council Implementing Regulation (EU) 2022/2180 of 8 November 2022 implementing Regulation (EU) 2017/1509 concerning restrictive measures against the Democratic People’s Republic of Korea

On 30 August 2017, the Council adopted Regulation (EU) 2017/1509. On 14 September 2022, the United Nations Security Council (‘UNSC’) Committee established pursuant to UNSC Resolution 1718 (2006) updated the information relating to two entities subject to restrictive measures. Regulation (EU) 2017/1509 has therefore been amended accordingly.

Read more.

Turkey Regime (re: unauthorizing drilling activities in the Eastern Mediterranean)

• Council Decision (CFSP) 2022/2186 of 8 November 2022 amending Decision (CFSP) 2019/1894 concerning restrictive measures in view of Turkey’s unauthorised drilling activities in the Eastern Mediterranean

On 11 November 2019, the Council adopted Decision (CFSP) 2019/1894 (1) concerning restrictive measures in view of Turkey’s unauthorised drilling activities in the Eastern Mediterranean. The Council has reviewed the restrictive measures set out in Decision (CFSP) 2019/1894. Based on that review, those measures should be extended until 12 November 2023. Decision (CFSP) 2019/1894 has therefore been amended accordingly.

Read more.

Please be reminded that all EU/UN sanctions are directly applicable under Maltese law under the National Interest (Enabling Powers) Act, cap 365 of the Laws of Malta as linked here.

Should any of your clients be a person or entity who is listed under UN/EU or national sanctions or who is directly or indirectly owned or controlled by a listed person or entity, the freezing measures mentioned under Article 17 of the Act apply.

The Sanctions Monitoring Board is to be informed immediately of the actions that have been taken in relation to the assets of such listed persons.

The Sanctions Monitoring Board may be contacted on sanctions.mfea@gov.mt on any issue relating to sanctions.

Please find below links to the:

EU Financial Sanctions Database

Consolidated UN Sanctions List

EU Sanctions Map

Sanctions Monitoring Board

Myanmar/Burma Regime

• Council Implementing Regulation (EU) 2022/2177 of 8 November 2022 implementing Regulation (EU) No 401/2013 concerning restrictive measures in view of the situation in Myanmar/Burma

On 2 May 2013, the Council adopted Regulation (EU) No 401/2013. In view of the continuing grave situation in Myanmar/Burma, 19 persons and one entity should be added to the list of natural and legal persons, entities and bodies subject to restrictive measures set out in Annex IV to Regulation (EU) No 401/2013. Regulation (EU) No 401/2013 has therefore been amended accordingly,

Read more.

Please be reminded that all EU/UN sanctions are directly applicable under Maltese law under the National Interest (Enabling Powers) Act, cap 365 of the Laws of Malta as linked here.

Should any of your clients be a person or entity who is listed under UN/EU or national sanctions or who is directly or indirectly owned or controlled by a listed person or entity, the freezing measures mentioned under Article 17 of the Act apply.

The Sanctions Monitoring Board is to be informed immediately of the actions that have been taken in relation to the assets of such listed persons.

The Sanctions Monitoring Board may be contacted on sanctions.mfea@gov.mt on any issue relating to sanctions.

Please find below links to the:

EU Financial Sanctions Database

Consolidated UN Sanctions List

EU Sanctions Map

Sanctions Monitoring Board

The Financial Intelligence Analysis Unit would like to inform subject persons that the FATF has published a draft text updating the Guidance to Recommendation 24 on the transparency and beneficial ownership of legal persons.  

A White Paper for public consultation to consider the potential amendments to Recommendation 24 took place between June and August 2021. Some of the feedback received by the FATF is now included in these amendments with the purpose of increasing transparency about the beneficial ownership of the legal persons/legal arrangements and take action to mitigate the risks.

Subject persons and other interested stakeholders are now invited to provide their feedback on the following specific issues:

1. Whether the Guidance to Recommendation 24 is clear or are there any issues which need further clarification.
2. Are there case examples of registries and alternative mechanisms for holding of accurate, adequate and up-to-date beneficial ownership information?
3. Are there case examples of mechanisms to verify beneficial ownership information in low-risk scenarios?
4. Are there case examples of the use of information held by stock exchanges for listed companies to meet beneficial ownership information obligations?

To access the draft text, please click on the following link to the FATF website.

Anyone interested may submit a response by the 6th of December (18:00 CEST) by sending an email to FATF.Publicconsultation@fatf-gafi.org with the subject-line “Comments of [author] on the draft Amendments to FATF Guidance on Beneficial Ownership (R.24)”. Kindly refer to the link provided above for further information.

Tunisia Regime

• Council Implementing Regulation (EU) 2022/2073 of 27 October 2022 implementing Regulation (EU) No 101/2011 concerning restrictive measures directed against certain persons, entities and bodies in view of the situation in Tunisia

On 4 February 2011, the Council adopted Regulation (EU) No 101/2011. On the basis of a review by the Council, the entries for seven persons and the information regarding their rights of defence and their right to effective judicial protection should be deleted.. The Annex I to Regulation (EU) No 101/2011 has since been amended accordingly.

Read more.

• Council Implementing Regulation (CFSP) 2022/2086 of 27 October 2022 implementing Decision 2011/72/CFSP concerning restrictive measures directed against certain persons and entities in view of the situation in Tunisia

On 31 January 2011, the Council adopted Decision 2011/72/CFSP. On the basis of a review by the Council, the entries for seven persons and the information regarding their rights of defence and their right to effective judicial protection should be deleted. The Annex to Decision 2011/72/CFSP has since been amended accordingly.

Read more.

Transnistrian Region (Moldova) Regime

• Council Decision (CFSP) 2022/2085 of 27 October 2022 amending Decision 2010/573/CFSP concerning restrictive measures against the leadership of the Transnistrian region of the Republic of Moldova

On 27 September 2010, the Council adopted Decision 2010/573/CFSP. On the basis of a review of Decision 2010/573/CFSP, the restrictive measures against the leadership of the Transnistrian region of the Republic of Moldova should be extended until 31 October 2023. The Council will carry out a review of the situation with regard to the restrictive measures after 6 months. Decision 2010/573/CFSP has since been amended accordingly,

Read more.

Please be reminded that all EU/UN sanctions are directly applicable under Maltese law under the National Interest (Enabling Powers) Act, cap 365 of the Laws of Malta as linked here.

Should any of your clients be a person or entity who is listed under UN/EU or national sanctions or who is directly or indirectly owned or controlled by a listed person or entity, the freezing measures mentioned under Article 17 of the Act apply.

The Sanctions Monitoring Board is to be informed immediately of the actions that have been taken in relation to the assets of such listed persons.

The Sanctions Monitoring Board may be contacted on sanctions.mfea@gov.mt on any issue relating to sanctions.

Please find below links to the:

EU Financial Sanctions Database

Consolidated UN Sanctions List

EU Sanctions Map

Sanctions Monitoring Board