Malta has launch a consultation paper to enhance its non-financial professionals regime.
As proposed, this amendment will meet FATF standards including registration of notaries, lawyers, company service providers and accountants.
The drafted document propose to define a licensing regime which will allow different professionals to offer further services according to the licence granted, similar regime exists on several crown dependencies.
This is the first reaction of the Malta Financial Services Authority since the Moneyval report produced last September.
Measures also include fine increase, further AML obligations, reporting obligations, properness testing and controls both at on-boarding and on-going.