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Recent cases of money laudering judged

Since the begining of the year, several cases of money laundering were in the media in Malta and the justice is doing its job.

See recent articles from The Malta Independant:

Another Panamanian national was charged yesterday with money laundering involving a sum of about Lm10,000. (31/03/07)

Court: First case of money laundering in the Criminal Court: Woman jailed for six years (30/03/07)

Court: Foreigner charged with money laundering (29/03/07)

Four face £1.4m in money-laundering charges (20/01/07)

Court: Criminal Court imposes stiffer bail conditions (05/01/07)

20:13 Posted in Malta | Permalink | Comments (0)


FIU Repot

FIU Malta strives to be a leader in the prevention of money laundering and terrorist financing thus contributing towards a safe and stable financial and economic environment. It works towards this mission through information collection, analysis and co-operation in the dissemination of information suspected of money laundering or terrorist financing related activities thus supporting the domestic and international law enforcement
investigative efforts.
The last annual report provides information on the way AML-CFT requirements are implemented in Malta.

See report

07:08 Posted in Malta | Permalink | Comments (0)


Transparence on sanctions

The Malta Financial Services Authority (MFSA) is the single regulator for financial services activities in Malta. It regulates and supervises credit and financial institutions, investment, trust and insurance business and also houses the country's Companies Registry.
Since January 2, 2004, the MFSA informs the public of all breaches of financial services licence conditions which have given rise to the imposition of a fine or any other administrative measure, giving the name of the licence holder and the sanction imposed by the Authority. The publication of this information takes place only after the exhaustion of all possible appeals at law from the decision of the Authority.
There are not many cases and the amount of fines is not dissuasive enough (Lm 100 up to to Lm 1000 i.e. EUR 233 up to EUR 2330).

See website

15:04 Posted in Malta | Permalink | Comments (0)