All individuals and entities carrying out any relevant financial business or relevant activity as defined in the Prevention of Money Laundering and Funding of Terrorism Regulations (PMLFTR) are considered to be subject persons and are required to submit the Risk Evaluation Questionnaire (REQ).
The Financial Intelligence Analysis Unit (FIAU) is organising a half day training session, to provide subject persons with information on the risk assessment methodology used by the FIAU to risk rate subject persons, an update on the changes occurring to the REQ and guidance in completion of the REQ for the year 2020.
The training sessions will be split into 6 sessions based on the type of sector that the subject person operates in. This training should be attended by Money Laundering Reporting Officers (MLROs) and/or Designated Employees (DEs).
The training sessions will be split as follows:
11 February 2020:
Session 1: Accountants, Advocates and Tax Advisors
Session 2: Trust and Company Service Providers and VFAs
12 February 2020:
Session 1: Credit Institutions, Financial Institutions and
Insurance Service Providers
Session 2: Notaries and Real Estate Agents
13 February 2020:
Session 1: Investment Service Providers
Session 2: Gaming Operators
Additional details are to follow and these will be sent to registered CASPAR users. Therefore, the FIAU urges subject persons who have not registered on CASPAR to do so without any further delay.
Source: fiaumalta.org
Originally published January 22, 2020.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
