“Malta has made a lot progress as regards to the 5th Anti-Money Laundering Directive which will be transposed by January 2020.” Minister for Finance Edward Scicluna made this statement whilst launching a one-week training programme ‘Financial Investigative Techniques’ organised by the U.S Embassy through the U.S Department of Defense in collaboration with the National Coordinating Committee on Combating Money Laundering and Funding of Terrorism.
PRESS RELEASE BY THE MINISTRY FOR FINANCE
In his opening speech, Minister Scicluna added that the 5th Anti-Money Laundering Directive introduced new responsibilities which concern company registers and the sharing of information. Minister Scicluna added that even though the 5th Anti-Money Laundering Directive concerns the European Union as a whole, all Member States have to work together to reach the required standards.
Minister Scicluna emphasised that Malta has always done its job in terms of combating money laundering and financial crime. However, together as a team we need to rise to new challenges and move forward.
The specialised training is being delivered by the U.S. Internal Revenue Service to forty representatives from various competent authorities which include the NCC, Customs, the Attorney General, the Asset Recovery Bureau, the Malta Secret Service, the Executive Police, the Malta Financial Services Authority, the FIAU, and from the Office of the Commissioner for Revenue.
Minister Scicluna concluded that through this training programme, Malta would be in a better position to address better issues concerning money laundering and financial crime.
Monday 23rd September 2019
One response to “We need to rise to the challenge and move forward in combating AML/CFT”
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