Malta, as an EU member, has adopted the Prevention of Money Laundering and funding of terrorism directives. Malta enacted the Prevention of Money Laundering Act and regulations which are designed to ensure that monies passing through Maltese entities have not originated from any criminal activities.
Kyte can assist you to develop internal procedures which ensure that you comply with your statutory obligations. We can help you develop procedures based on your type of operation and risks your organization faces.
One of the statutory requirements is to provide training to your employees to ensure that they are aware of their obligations and how to discharge them. Organisations falling within the scope of the legislation must also appoint a Money Laundering Reporting Officer (MLRO) who must report suspicious transactions to the Financial Intelligence Analysis Unit. We can also assist you in discharging this obligation or to provide training to your employees.
For further information about money laundering refer to our resources section.