Our Articles

Discover all the latest published articles covering a wide range of subjects from experts of Forvis Mazars in Malta.

 

 

 

 

 

 

 

 

SWIFT CSP 2024: The Role of Independent Assessments

SWIFT CSP 2024: The Role of Independent Assessments

In the ever-evolving landscape of global finance, security and compliance are paramount. The SWIFT Customer Security Programme (CSP) 2024 introduces critical updates designed to bolster the integrity, consistency, and security of financial institutions worldwide.

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Budget thoughts from a financial services perspective

Within our island, the buildup towards the annual Budget Speech has historically always been one of expectation. The Minister of Finance, Hon Clyde Caruana as well as other high ranking Government officials had already announced a number of measures such as the COLA to possibly alleviate this sense of expectation.

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Budget thoughts from a financial services perspective
Specialist and integrated support for your accounting and finance team

Specialist and integrated support for your accounting and finance team

Forvis Mazars in Malta is an audit, accountancy, advisory, tax and legal services firm whose services can be leveraged by companies wishing to outsource their accounting and reporting requirements.

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Testing the Operational Effectiveness of the AML/CFT Framework

The Prevention of Money Laundering and Funding of Terrorism Regulations (PMLFTR) and the Implementing Procedures (IPs) emphasize the importance of monitoring the AML/CFT control framework on an ongoing basis, either through an independent audit function, or by engaging an independent consultant or an internal party who is independent from the operations. This article discusses how such reviews should not only focus on the fulfilment of compliance requirements, but also on identifying control failures.

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Testing the Operational Effectiveness of the AML/CFT Framework
25 years of Mazars in Malta – Growing with purpose together

25 years of Mazars in Malta – Growing with purpose together

Mazars’ roots in Malta go back to 1998, when Paul Giglio and Anthony Attard started a small firm known as Attard Giglio & Co.

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The Concealment of Beneficial Ownership

In carrying out their due diligence obligations, subject persons are continuously faced with the obligation to identify and verify the ultimate beneficial owner/s of their customer.

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The Concealment of Beneficial Ownership
Forvis Mazars in Malta Partner Paul Giglio interview

Forvis Mazars in Malta Partner Paul Giglio interview

"Over the years we have seen a radical change in the job market". Paul discusses the firm’s employer branding proposition, and how this is delivering the desired results, especially when it comes to bringing on board young talent at the firm.

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An overview of trade-based money laundering

Money launderers are always finding creative ways to launder proceeds of crime without being exposed.

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An overview of trade-based money laundering
The Anti-Money Laundering (AML) Framework

The Anti-Money Laundering (AML) Framework

This article highlights the important components of a subject person’s Anti-Money Laundering (AML) regime and the risk-based approach required to fulfil the regulatory requirements that are outlined in the Prevention of Money Laundering and Funding of Terrorism Regulations (PMLFTR), and the implementing procedures of the Financial Intelligence Analysis Unit (FIAU).

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Tackling the source of wealth and source of funds dilemma

While traditionally subject persons have focused their efforts on the identification and verification of the customer and the underlying beneficial owner/s, less importance has been placed on understanding the Money Laundering and Financing of Terrorism (ML/FT) risk relating to the customer’s business activity, the source of wealth and the source of funds.

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Tackling the source of wealth and source of funds dilemma