On 21st of December 2015, MFSA sent a notice to licence holders regarding the AML/CFT supervision work carried out by the MFSA on behalf of the FIAU.
Following news that the MFSA has set up an ad hoc AML/CFT Unit, the MFSA gave notice that, with effect from 2016, AML/CFT supervision will no longer be carried out by the individual MFSA supervisory Units but shall be carried out by the purposely set up AML/CFT Supervision Section within the Enforcement Unit of the MFSA.
This will apply to:
all persons carrying out relevant financial business;
persons providing trustee or any other fiduciary services;
company services providers; and
any other person licenced or otherwise authorised by the MFSA.
Of course, the powers of the FIAU remain.
Related Articles
All Insights
