Comparative Guides

Welcome to Mondaq Comparative Guides - your comparative global Q&A guide.

Our Comparative Guides provide an overview of some of the key points of law and practice and allow you to compare regulatory environments and laws across multiple jurisdictions.

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4. Results: Answers
Financial crime
What provisions govern money laundering and other forms of financial crime in your jurisdiction and what specific implications do these have for fintech companies?

Answer ... As an EU member state, Malta has transposed the Fourth EU Anti-money Laundering Directive and will transpose the Fifth EU Anti-money Laundering Directive, which will redefine the obligations placed on financial institutions and, by extension, to fintech companies offering payment services to professionals and those dealing in cryptocurrencies.

In October 2018 the Malta Financial Intelligence Analysis Unit published a consultation document on the application of anti-money laundering and counter-terrorist financing obligations to the virtual financial assets sector. This will establish the basis for sector-specific implementing procedures which provide granular guidance on the application of relevant legislation.

For more information about this answer please contact: Priscilla Mifsud Parker from Chetcuti Cauchi Advocates