Wednesday, October 28, 2020

Malta: PEP families to undergo strict scrutiny under new money laundering rules

Malta: PEP families to undergo strict scrutiny under new money laundering rules 1
By Olaalpha

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‘PEP families’ are under closer scrutiny under new money laundering rules

PEPs must undergo enhanced due diligence because their roles could be abused for private gain Malta’s financial intelligence unit (FIAU) is advising banks and other money handlers to apply “proportionate” risk profiles to clients who could be associated with politically-exposed persons (PEPs). Under new anti-money laundering rules, PEPs will […]

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