The Malta Business Registry is organising a one-day, CPE accredited, training seminar, with continuous aim of shining a light on the findings of Malta’s 2023 National Risk Assessment (NRA) in relation to Money Laundering and Terrorism Financing through the abuse of legal persons and the ever-evolving illicit activity in this sector.

Under the FATF’s Recommendation 24, countries are required to take measures to prevent the misuse of legal persons.  In this regard, laws have been enacted to overhaul the Companies Act in such a way that it enhances transparency and provides for the ability to collect BO Information. For instance, the concealment of BO information is amongst the red flag indicators suggesting abuse of legal persons.

Hence the one-day conference aims to provide CSPs, practitioners and various other entities which engage with such a topic, with better knowledge whilst gaining more tools to identify suspicious activity, particularly through due diligence processes as for CSPs and practitioners whilst for entities and authorities when carrying out investigations.

The training seminar entitled ‘Abuse of Legal Persons’ compliments MBR’s efforts in ensuring an up-to-date, accurate and fully populated register. 

This one-day conference shall delve into:

• the FATF recommendations.
• the EU AML legislative framework.
• risk understanding.
• concealment of beneficial ownership in relation to financial crime.
• the role of Trusts and Company Service Providers as gatekeepers.
• legal persons and asset recovery.
• company abuse in terms of insolvency and anti-money laundering.
• Anti-Money Laundering Strategy.

 Given that the fight against illicit and suspicious activity is not a one-man job, the training seminar will offer a myriad of other entities’ own experiences through hands on case studies that encourages the participation of the audience throughout.

The agenda includes the participation of speakers from governmental entities, the MBR, the MFSA, the FIAU and the NCC.

‘’This seminar is designed to equip participants with technicalities, in-depth analysis and critical thinking which can greatly enhance the ability to identify abuses. It provides a great opportunity to grow both professionally, build a network with like-minded individuals, and gain valuable insights from industry experts’’ remarked MBR’s CEO and Registrar Dr Geraldine Spiteri Lucas.

The training seminar will take place on 30th September at The Link Hall Zejtun.

Tickets can be bought from here