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|z 9781513520711
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|a 1934-7685
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|a BD-DhAAL
|c BD-DhAAL
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|a International Monetary Fund.
|b Monetary and Capital Markets Department.
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|a Malta :
|b Financial Sector Assessment Program-Technical Note-Anti-Money Laundering and Combating the Financing of Terrorism (AML/CFT).
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|a Washington, D.C. :
|b International Monetary Fund,
|c 2019.
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|a 1 online resource (24 pages)
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|a IMF Staff Country Reports
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|a <strong>Off-Campus Access:</strong> No User ID or Password Required
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|a <strong>On-Campus Access:</strong> No User ID or Password Required
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|a Electronic access restricted to authorized BRAC University faculty, staff and students
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|a This technical note on Anti-Money Laundering and Combating the Financing of Terrorism (AML/CFT) for the Malta summarizes the findings of a targeted review of several aspects of Malta's progress in addressing AML/CFT vulnerabilities in the financial sector, specifically the banking sector. The report recommends that while Malta has strengthened AML/CFT requirements for banks in recent years, the implementation of AML/CFT preventive measures should be improved further. Although important milestones have been implemented by the Financial Intelligence Analysis Unit and Malta Financial Services Authority to enhance AML/CFT supervision since mid-2017, recent AML/CFT violations raise doubts as to their capacity to effectively identify and address AML/CFT compliance breaches. A multiprong strategy is needed to address these deficiencies. The focus needs to be on developing more effective AML/CFT enforcement and ensuring that banks apply appropriate preventive measures in relation to their high-risk activities and clients. AML/CFT supervision needs to more stringently evaluate banks' risk mitigation models, ensure that customer due diligence requirements are properly followed, and apply corrective actions and sanctions when deficiencies are identified.
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|a Mode of access: Internet
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|a IMF Staff Country Reports; Country Report ;
|v No. 2019/345
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|z Full text available on IMF
|u http://elibrary.imf.org/view/journals/002/2019/345/002.2019.issue-345-en.xml
|z IMF e-Library
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