Insights

Dr Anthony Cremona, Partner at GANADO Advocates will be delivering a presentation at this conference on the following topic:

AN INTRODUCTION TO MONEY LAUNDERING AND THE MALTESE LEGAL AND REGULATORY FRAMEWORK

The subject of this presentation will cover the salient features of the Maltese Anti-Money Laundering and Counter-Financing of Terrorism (AML-CFT) legal regime. During this presentation, the subject of Money Laundering will be introduced; from the placement and layering of illicit proceeds of crime all the way to the integration of laundered money into a legitimate system as well as its application towards the financing of terrorism. As part of this exercise, a general examination of the legal framework and principal provisions behind Malta’s main AML-CFT legislation will be considered including the provisions of

i. the Prevention of Money Laundering Act (Cap. 373);

ii. the Prevention of Money Laundering & Funding of Terrorism Regulations (LN 180/2008 as recently amended in 2014); and

iii. the Criminal Code (Cap. 9).

Due consideration will also be given to other rules, roles and concepts emerging from Maltese and EU AML-CFT legislation including the Implementing Procedures published by the Financial Intelligence Analysis Unit, the involvements of the various responsible public authorities, the obligations of subject persons as well as penalties for non-compliance and notions revolving around the obligation to report suspicious transactions.