The money laundering offence established by the Prevention of Money Laundering Act (Cap 373 of the Laws of Malta, “PMLA”) is defined with reference to participation in a criminal activity, including, conversion, acquisition, possession or use of proceeds from such criminal activity.
As AML/CFT compliance burdens and regulatory expectations are constantly increasing, the banking sector, including local players, has embarked on a widespread de-risking exercise in an effort to mitigate the risk of non-compliance as well as shed customers which may be associated with higher ML/FT risks.
Hello Kitty producer Sanrio Company Ltd. (Sanrio) has been fined €6.2 million for banning its licensed traders from selling merchandise, including its popular Hello Kitty figure, across borders to other countries within the European Economic Area (EEA).
The Residential Leases Bill has entered the Committee phase of the legislative process after having passed the first two readings in Parliament throughout the months of June and July 2019.
Camilleri Preziosi, in collaboration with FinanceMalta, joined over 4,000 industry experts at the Global ABS 2019 - the largest annual European structured finance gathering, which took place between the 11th and 13th June in Barcelona, Spain.
Camilleri Preziosi is proud to announce that it has recently become a member of FraudNet, a specialist international network of fraud and asset recovery lawyers.