Articles

Discover all the latest published articles covering a wide range of subjects from experts of Mazars in Malta.

 

 

 

 

 

 

 

 

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An overview of trade-based money laundering

Money launderers are always finding creative ways to launder proceeds of crime without being exposed.

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The Anti-Money Laundering (AML) Framework

This article highlights the important components of a subject person’s Anti-Money Laundering (AML) regime and the risk-based approach required to fulfil the regulatory requirements that are outlined in the Prevention of Money Laundering and Funding of Terrorism Regulations (PMLFTR), and the implementing procedures of the Financial Intelligence Analysis Unit (FIAU).

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Tackling the source of wealth and source of funds dilemma

While traditionally subject persons have focused their efforts on the identification and verification of the customer and the underlying beneficial owner/s, less importance has been placed on understanding the Money Laundering and Financing of Terrorism (ML/FT) risk relating to the customer’s business activity, the source of wealth and the source of funds.

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The role of Internal Audit within the AML Framework

In today’s world of tightening regulations and an evolving risk landscape, companies are facing increased pressure to comply with Anti Money Laundering (AML) regulations to avoid hefty fines, reputational risk, and disruptions to their operations.

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Preparing for AML regulatory visits

A company with a robust AML framework should have nothing to fear from an AML regulatory visit

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Managing AML risk within the online gaming industry

The 4th AML Directive brought with it a mandatory risk-based approach, whereby subject persons must draw up AML/CFT policies and procedures commensurate to their risk appetite and to the risks that they are exposed to.

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Building an effective human firewall against cyberattacks

Cyberattacks aren’t just getting more frequent, they are also becoming significantly more vicious and sophisticated. Today’s cyberattacks are targeted and subtle, and the stakes are high.

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Possible impact of Tax Harmonisation measures in Malta

Whereas the introduction of tax harmonization could be problematic to a country like Malta, it is hard to determine the exact effect and magnitude that the introduction of a system of tax harmonization within the European Union would have on the Maltese economy

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Data security and the gaming sector in Malta

Regular testing of existing capabilities and procedures will of course enhance the quality of the protection and its durability over time.

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