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NEWS: Malta’s FIAU issues Cash Guidance for Financial Institutions as body warns cash presents a ‘significant vulnerability’ for the country

Malta

By Elizabeth Hearst for AMLi

Malta’s Financial Intelligence Analysis Unit (FIAU) has issued a guidance note on the use of cash and the banking sector, as the country aims to plug AML weaknesses previously identified. 

The FIAU has warned that cash is “particularly susceptible to misuse for money laundering and funding of terrorism purposes”, while the anonymity associated with cash makes it an “ideal means for criminals to take advantage of.”

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