AML/CFT – Country lists update

The Authority wishes to draw your attention to amendments to the country lists following the June 2021 FATF plenary. The country lists have been amended by the Cabinet Office and can be viewed on the DHA’s website.

Most Regulated or supervised entities should already have carried out their own evaluation for any impact on their own risk assessments and customer procedures arising from this.

In particular the Authority would like to highlight that Malta have been removed from List C (Equivalent jurisdiction list) and placed on List B (Jurisdictions that may pose a higher risk) due to the FATF determining they had not made sufficient progress on their action plan.

It is requested that any licence holders or registered persons with business relationships/customers connected to Malta provide the Authority with details of those business relationships highlighting whether simplified measures have been used, and if so explaining which measures.  These details should be provided to aml@iomfsa.im by the end of July 2021.