Anti-Money Laundering Updates

FIAU along with MGA & MFSA publish document entitled The Business Risk Assessment

The Financial Intelligence Analysis Unit (FIAU) in collaboration with the Malta Gaming Authority (MGA) and the Malta Financial Services Authority (MFSA) are publishing a document entitled The Business Risk Assessment.

The document provides an overview of the key findings about Business Risk Assessments (BRAs) carried out by subject persons as per their obligations under the Prevention of Money Laundering and Funding of Terrorism Regulations (PMLFTR) and the FIAU’s Implementing Procedures.

It is based on a high-level review of the BRAs submitted by subject persons as part of the 2020 Risk Evaluation Questionnaire submission, as well as an in-depth analysis of the BRAs provided by subject persons as part of AML/CFT compliance examinations carried out by FIAU, MGA and MFSA during the period 1 July 2019 to 30 June 2020.

The MGA urges all gaming licensees which are considered as subject persons under the PMLFTR to make good use of this document to ensure that they have an adequate BRA which satisfies all legal requirements.

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