Resources
ANNUAL REPORTS
The NCC publishes the annual reports in accordance with Article 11 of the National Coordinating Committee on Combating Money Laundering and Funding of Terrorism Regulations, Subsidiary Legislation 373.02. These reports contain information on the operations together with details of other developments and initiatives of the National Coordinating Committee on Combating Money Laundering and Funding of Terrorism and the supporting Secretariat during the year under review.
SECTIORAL RISK ASSESSMENTS
KEY RESULTS OF THE RISK ASSESSMENT OF TAX OFFENCES AND RELATED MONEY LAUNDERING
In November 2021 Malta completed a risk assessment on tax evasion both in terms of laundering the proceeds of domestic tax evasion and in terms of potential tax evasion abroad with the laundering the foreign proceeds of crime in Malta. This is the first detailed risk assessment examining the risks of money laundering from tax evasion. The purpose of this risk assessment is two-fold: (i) to establish a common understanding of the existing risks regarding ML in Malta of the proceeds of tax crime (domestic and foreign), asses the quality of existing mitigation measures, and foster effective risk based effort More….
LEGAL ENTITIES, LEGAL ARRANGEMENTS AND VOLUNTARY ORGANISATIONS
A sectoral risk assessment in the area of legal entities, legal arrangements and Voluntary Organisations was necessary, and this is especially so in view of the fact that these sectors do not represent a specific ‘sector’ of the economy, but rather they constitute the structures through which a nation’s economic activity is delivered. The NCC in 2019 led the exercise for the completion of thematic risk assessments, including for legal entities and arrangements. This sectoral risk assessment was a national effort and incorporated data and expertise from relevant authorities and the private sector.
TERRORISM FINANCING AND NATIONAL CFT STRATEGY
Risk assessments are necessary, and this is especially so in view of the fact that the FATF guidelines recommend that it is important that countries assess and continue to monitor their TF risks regardless of the absence of known threats. The NCC in 2019 led the exercise for the completion of thematic risk assessments, including for terrorism financing, the focus of this analysis. In fact, this paper presents the salient points emerging from this sectoral risk assessment which was a national effort and incorporated data and expertise from relevant authorities. For competent authorities, the risk assessment will help prioritise efforts and resources More…
VIRTUAL FINANCIAL ASSETS
Malta is thoroughly committed to combatting all forms of ML/FT and this assessment is intended to develop a deeper understanding of the specific risks posed by this new sector, while at the same time embracing the opportunities presented by recent technical advancements. The key results document presents a summarised view of the methodology and key findings of the risk assessment. Competent authorities and the private sector can use this key results document of the sectoral risk assessment to advance its risk-based approach to regulation, supervision and enforcement, and mitigate the ML/FT risks within this rapidly growing part of the economy.
LEGISLATIONS
Act No. V of 2021 – Proceeds of Crime Act – Link
Bill No 88 Various Laws (Better Administration of Justice) (Amendment) Bill – Link
Legal Notice 343 of 2019 – Various Laws (Better Administration of Justice (Amendment) 2019 (Act No. XXXI of 2019) Commencement NoticeA BILL 88 – Various Laws (Better Administration of Justice) (Amendment) Act, 2019 – Link
Criminal Code (Cap. 9 of Laws of Malta) – Link
Legal Notice 254 of 2017 – Asset Recovery Bureau Regulations (S.L.9.23) Commencement Notice – Link
Legal Notice 283 of 2018 – Asset Recovery Bureau Regulations, 2015 (L.N. 357 of 2015) Commencement Notice – Link
Act LXVIII of 2021 which amends the Proceeds of Crime Act (Chapter 621 of the Laws of Malta) – Link
L.N. 401 of 2020 – CBAR Regulations – Link
Prevention of Money Laundering (CAP327) Use of Cash (Restriction) Regulation, 2021 – Link
Legal Notice 26 of 2020 – Amending the PMLFTR to transpose a number of 5thAMLD provisions – Link
Act I of 2020 – Amending the PMLA to transpose some provisions of the 5th AMLD and address some technical deficiencies within the PMLA (identified by MONEYVAL) – Link
Legal Notice 77 of 2019 – Amending the PMLFTR to ensure that certain provisions found not to be in adherence to the 4th AMLD – Link
Prevention of Money Laundering Act (Cap.373 of Laws of Malta) – Link
Prevention of Money Laundering and Funding of Terrorism Regulations (Subsidiary Legislation 373.01) – Link
Subsidiary Legislation 16.17 (Legal Notice 24 of 2020) relative to the Civil Code (Second Schedule) (Register of Beneficial Owners-Associations) Regulations – Link
Subsidiary Legislation 16.18 (Legal Notice 25 of 2020) relative to the Civil Code (Second Schedule) (Register of Beneficial Owners-Foundations) Regulations – Link
L.N. 51 of 2022 – Companies Act (CAP. 386) Companies Act (Forms)(Amendment) Regulations, 2022-Link
ACT No. LX of 2021 – An Act to amend the Companies Act, Cap. 386- Link
ACT No. XLVII of 2020 – An ACT to amend the Second Schedule to the Civil Code, Cap. 16and the Companies Act, Cap. 386 and to provide for related and ancillary provisions. – Link
L.N. 158 of 2019 – Companies Act (Register of Beneficial Owners) (Amendments) Regulations, 2019 – Link
L.N. 25 of 2022 Virtual Financial Assets Act (CAP. 590)Virtual Financial Assets (Amendment) Regulations, 2022-Link
Virtual Financial Assets Act, Cap 590 – Link
Act L of 2020 – Company Service Providers (Amendment) Act, 2020 – Link
Legal Notice 27 of 2020 Trust and Trustees Act (Register of Beneficial Owners) Amendment Regulations 2020 – Link
Legal Notice 26 of 2020 Prevention of Money Laundering Act (Prevention of Money Laundering and Funding of Terrorism (Amendment) Regulations, 2020 inclusion of additional Virtual Financial Assets provisions) – Link
Legal Notice 430 of 2018 – Prevention of Money Laundering Act Amendment Regulations 2018 (Prevention of Money Laundering and Funding of Terrorism – inclusion of Virtual Financial Assets provisions) – Link
Legal Notice 373 of 2017 Trust and Trustees Act (Register of Beneficial Owners) Regulations 2017 – (Prevention of Money Laundering and Funding of Terrorism Trust Ultimate Beneficial Owner Register Regulations 20/12/2017) – Link
An Act to amend legislation regulating the legal profession – Link
S.L. 583.03 – Gaming Licence Fees Regulations – Link
S.L. 583.04 – Gaming Definitions Rgulations – Link
S.L. 583.05 – Gaming Authorisations Regulations – Link
S.L. 583.06 – Gaming Compliance and Enforcement Regulations – Link
S.L. 583.07 – Gaming Premises Regulations- Link
S.L.583.08 – Gaming Player Protection Regulations- Link
S.L. 583.09 – Gaming Commercial Communications Regulations Regulations- Link
S.L.583.10 – Gaming Tax Regulations – Link
S.L.583.11 – Social Causes Fund Regulations- Link
S.L.583.12 – Retention of Data (MGA) Regulations – Link
Cap 583 – Gaming Act – Link
Directive on the Key Function of the Prevention of Money laundering and the Financing of Terrorism – Link
Legal Notice L.N. 261 of 2020, Trading Licences Act (CAP. 441) Trading Licences (Amendment) Regulations, 2020 – Link
L.N. 50 of 2022 – Income Tax Act (CAP. 123) Cooperation with Other Jurisdictions on Tax Matters (Amendment) Regulations, 2022 - Link
Act No. XIX of 2021, An Act to amend legislation regulating the legal profession – Link
L.N. 117 of 2018 – Prevention of Money Laundering Act (CAP.373) National Coordinating Committee on Combating Money Laundering and Funding of Terrorism Regulations, 2018 – Link
L.N 284 of 2021 – National Coordinating Committee on Combating Money Laundering and Funding of Terrorism (Amendment) Regulations, 2021 – Link
Government Gazette No. 20,602 of 6th April 2021 – Politically Exposed Persons – Link
Act XLV of 2020 – Various Laws (Removal from Office) (Amendment) – Link
Act XLIII of 2020 – Consitution of Malta Amendement – Link
Act XLI of 2020 – Judicial Review (Decisions not to Prosecute and Other Decisions of the Prosecution) – Link
Act No LII of 2020 – An Act to further amend the Criminal Code, Cap 9, 13 November 2020 – Link
ACT No. XLIII of 2020, The legal amendments to the Criminal Code and to Chapter 373 that effected the strengthening of the sharing of information as indicated in Act XLIII of 2021: Various Laws relating to the Facilitating of the Use of Financial and other Information (Amendment) Act, 2021.published on the 20th July 2021 – Link
An Act to amend the Income Tax Act, Cap. 123, the Duty on Documents and Transfers Act, Cap. 364, the Income Tax Management Act, Cap. 372, and the Value Added Tax Act, Cap. 406 – Link
Act No. XXXII of 2020 – Real Estate Agents, Property Brokers and Property Consultants Act, 2020, Bill No. 129 – Link
Fifth Anti-Money Laundering Directive (EU) 2018/843 – Link
Regulation (EU) 2015/849 – Fourth Money Laundering Directive – Link
Directive (EU) 2018/843 – Directive Amending the Fourth Money Laundering Directive – Link
Regulation (EU) 2015/847 – Information accompanying transfers of funds – Link
2005/60/EC – Third Money Laundering Directive – Link
2006/70/EC – Implementation Directive – Link
Regulation (EC) 1781/2006 – Link
Directive (EU) 2018/843 – Fifth Anti-Money Laundering Directive – Link
