The Financial Intelligence Analysis Unit (FIAU) has been tasked by the goverment to lead a National Risk Assessment (NRA) aimed at identifying, assessing and understanding the risks of money laundering and terrorist financing faced by Malta.

The outcome will allow the authorities to develop effective risk-based policies and actions and allocate resources to manage and mitigate the risks.

The European Commission’s proposal for the fourth anti-money laundering directive, issued in February, requires member states to conduct a risk assessment.

The assessment will be carried out in line with World Bank methodology and will involve various government ministries, supervisory authorities, the law courts, the police, the tax authorities, the Central Bank, the Stock Exchange, Customs, the University, industry bodies and practitioners in the financial services industry.

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