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LOCAL News

  • 12 Sep 2023 13:50 | Malta Institute of Accountants (Administrator)


    Commission guidance to help European operators assess sanctions circumvention risks

    The Commission published a guidance note addressed to European operators to help them identify, assess, and understand the possible risks of sanctions circumvention – and how to avoid it.

    This guidance note aims at providing a general overview of what EU operators need to do when conducting due diligence in their work, as required by EU law. For more infomation please click here.

  • 11 Sep 2023 12:46 | Malta Institute of Accountants (Administrator)


    Council Implementing Regulation (EU) 2023/1715 of 8 September 2023 implementing Regulation (EU) 2020/1998 concerning restrictive measures against serious human rights violations and abuses

    On 8 September 2023 the Council of the European Union decided to amend Regulation (EU) 2020/1998 by adding six persons in the list of natural and legal persons, entities and bodies subject to restrictive measures set out in Annex I of the same Regulation

    Read more.

  • 4 Aug 2023 12:20 | Malta Institute of Accountants (Administrator)


    Council Regulation (EU) 2022/1329 of 28 July 2022 amending Regulation (EU) No 377/2012 concerning restrictive measures directed against certain persons, entities and bodies threatening the peace, security or stability of the Republic of Guinea-Bissau

    The Council of the European Union on 28 July 2022 decided to amend Regulation (EU) No 377/2012 by replacing its title as follows:

    ‘Council Regulation (EU) No 337/2012 of 3 May 2012 concerning restrictive measures in view of the situation in Guinea-Bissau’.

    Read more.


    Council Implementing Regulation (EU) 2022/1330 of 28 July 2022 implementing Article 11(1) of Regulation (EU) No 377/2012 concerning restrictive measures directed against certain persons, entities and bodies threatening the peace, security or stability of the Republic of Guinea-Bissau

    The Council of the European Union on 28 July 2022 decided to amend Annex I to Regulation (EU) No 377/2012 in accordance with the Annex to this Regulation, by deleting the entries concerning nine persons.

    Read more.


    Council Decision (CFSP) 2022/1335 of 28 July 2022 amending Decision 2012/285/CFSP concerning restrictive measures directed against certain persons, entities and bodies threatening the peace, security or stability of the Republic of Guinea-Bissau

    The Council of the European Union on 28 July 2022 decided to amend Decision 2012/285/CFSP by replacing its title as follows:

    ‘Council Decision 2012/285/CFSP of 31 May 2012 concerning restrictive measures in view of the situation in Guinea-Bissau and repealing Decision 2012/237/CFSP’.

    This Decision was further amended by the deletion of seven entries from Annex II of the Decision, as well as by the deletion of nine entries from Annex III of the same Decision.

    Read more.

  • 4 Aug 2023 12:20 | Malta Institute of Accountants (Administrator)


    Council Implementing Regulation (EU) 2023/1591 of 3 August 2023 implementing Article 8a(1) of Regulation (EC) No 765/2006 concerning restrictive measures in view of the situation in Belarus and the involvement of Belarus in the Russian aggression against Ukraine

    On 03 August 2023 the Council of the European Union decided to include thirty-eight individuals and three entities in the list of natural and legal persons, entities and bodies subject to restrictive measures set out in Annex I to Regulation (EC) No 765/2006

    Read more.

  • 3 Aug 2023 13:52 | Malta Institute of Accountants (Administrator)


    The FIAU would like to inform subject persons about the following publications that have been issued by MONEYVAL, EUROPOL and the European Banking Authority (EBA):


    MONEYVAL

    Report on money laundering and financing of terrorism risks (ML/FT) in the world of virtual assets

    MONEYVAL has published its report on ML/FT in the world of virtual assets. The report contains an examination of MONEYVAL members' adherence to Recommendation 15, a comprehensive review of the actions taken to oversee and control virtual asset service providers (VASPs), and an outline of the characteristics of the risks associated with criminals exploiting VASPs and virtual assets (VA) for money laundering purposes. This Report can be accessed directly through MONEYVAL’s website, or through the FIAU website by accessing the following link.


    EUROPOL

    Internet Organised Crime Assessment (IOCTA) 2023

    EUROPOL has published its annual Internet Organised Crime Assessment (IOCTA) of 2023. It contains Europol’s assessment of the cybercrime landscape and how it has changed over the last 24 months. This Report can be accessed directly through EUROPOL’s website, or through the FIAU website by clicking the following link.


    EBA

    1. EBA’s fourth opinion on money laundering and terrorist financing risks affecting the EU’s financial sector

    The EBA has published its fourth opinion on ML/FT risks affecting the EU’s financial sector.  This Opinion was issued in light of a transformed risk environment that affects both financial institutions' efforts to combat ML/FT and the supervisory methods employed by competent authorities. Some of the factors contributing to this changed landscape include geopolitical occurrences like Russia's invasion of Ukraine, legislative advancements such as the release of an extensive 'AML Package,' and the implementation of the Markets in Crypto-Assets Regulation (MiCAR).

    This Report can be accessed directly through the EBA’s website, or through the FIAU website by accessing the following link.

    2. EuReCa

    In January 2022, the EBA launched EuReCa, its central AML/CFT database. In June 2023, the EBA published a factsheet that summarises what EuReCA is, who reports into it and how the EBA uses information from EuReCA to foster an effective approach by EU supervisors to tackling financial crime risks in their sector. This Factsheet can be assessed through the EBA’s website by clicking the following link.

    3. EBA Annual Report

    The EBA has published its Annual Report which sets out its activities and achievements for 2022 and provides an overview of the key priorities for 2023. The document can be accessed from the EBA’s website.
  • 2 Aug 2023 11:18 | Malta Institute of Accountants (Administrator)


    On 2 June 2023, the Security Council Committee pursuant to resolutions 1267 (1999), 1989 (2011) and 2253 (2015) concerning ISIL (Da’esh), Al‑Qaida and associated individuals, groups, undertakings and entities enacted the amendments specified with strikethrough and/or underline in one entry on its ISIL (Da’esh) and Al-Qaida Sanctions List of individuals and entities subject to the assets freeze, travel ban and arms embargo set out in paragraph 1 of Security Council resolution 2610 (2021), and adopted under Chapter VII of the Charter of the United Nations.

    Read more.

  • 31 Jul 2023 12:35 | Malta Institute of Accountants (Administrator)


    For the latest updates regarding sanctions specifically imposed under the Ukraine Territorial Integrity Regime, please follow this link.

    Council Implementing Regulation (EU) 2023/1046 of 30 May 2023 implementing Regulation (EU) No 269/2014 concerning restrictive measures in respect of actions undermining or threatening the territorial integrity, sovereignty and independence of Ukraine

    On 17 March 2014, the Council adopted Regulation (EU) No 269/2014.

    In view of the gravity of the situation, the Council considers that two persons responsible for actions undermining or threatening the territorial integrity, sovereignty and independence of Ukraine should be added to the list of natural and legal persons, entities and bodies subject to restrictive measures set out in Annex I to Regulation (EU) No 269/2014.

    Regulation (EU) No 269/2014 has therefore been amended accordingly.

    Read more.

  • 31 Jul 2023 12:34 | Malta Institute of Accountants (Administrator)


    Council Regulation (EU) 2022/2309 of 25 November 2022 concerning restrictive measures in view of the situation in Haiti

    On 21 October 2022, the United Nations Security Council adopted Resolution 2653 (2022) which establishes a framework for targeted restrictive measures in view of the situation in Haiti. In accordance with this Resolution, on 25 November 2022, the Council adopted Decision (CFSP) 2022/2319, which provides for travel restrictions, a targeted arms embargo, the freezing of funds and economic resources of, and a prohibition to make funds and economic resources available to, persons, entities or bodies engaged in or supporting gangs involved in violence, criminal activities or human rights abuses which undermine the peace, stability and security of Haiti and the region.

    Read more.

  • 31 Jul 2023 12:32 | Malta Institute of Accountants (Administrator)


    On 1 March 2023, the United Nations Security Council Committee established pursuant to United Nations Security Council Resolution 1533 (2004) updated the information relating to one person subject to restrictive measures. Annex I to Regulation (EC) No 1183/2005 has therefore be amended accordingly.

    Read more.

  • 25 Jul 2023 13:13 | Malta Institute of Accountants (Administrator)


    Council Implementing Regulation (EU) 2023/… of 26 June 2023 implementing Regulation (EU) No 359/2011 concerning restrictive measures directed against certain persons, entities and bodies in view of the situation in Iran

    On 26 June 2023 and in line with the Union’s commitment to address all issues of concern with Iran, including the human rights situation, as confirmed in the Council conclusions of 12 December 2022, seven persons should be included in the list of natural and legal persons, entities and bodies subject to restrictive measures set out in Annex I to Regulation (EU) No 359/2011.

    Read more.

               

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