Initial predictions for 2024
While the outlook is unclear, indications show the threat of inflation is passing quicker than central banks suggest
Malta’s AML/CFT regulations updated with changes to FIAU fine structure
The new rules follow court challenges to imposed penalties
Business conditions improved ‘significantly’ in April, remain weak compared to pre-pandemic levels
The Central Bank issued its Economic Update and Business Conditions Index for March and April
Local inflation remains stable at 0.1% in April, EU inflation trending upwards
European Union inflation reaches 2%
Financial institutions are showing resilience and will be central to recovery – Survey
A survey by the International Finance Corporation has found that despite difficulties, financial institutions remain resilient
Heavy handed or simply compliant? Bank’s refusal to allow withdrawal under the spotlight
Tighter controls are being felt across banks' client base
Malta’s sees trade deficit of €165 million during March 2021
In March 2020, the trade deficit was registered at €190.9 million
Cryptocurrency exchange Crypto.com implements world-first AML solution
CipherTrace Traveler is the world’s first commercial Travel Rule compatible compliance solution
Bank’s refusal to allow withdrawal without evidence of reason leads to scene in Mosta branch
Impact of tightening money laundering rules being felt as woman denied access to her own cash
Malta registers second highest deficit in EU for 2020 but debt remained below 60% threshold
All EU nations registered a deficit in 2020 due to COVID-19 related expenditure and reduced economic activity
Loans subject to moratorium decline for seventh consecutive time since March 2020
Decline in value terms was observed in real estate, wholesale, retail and ICT sectors
‘It pays to be compliant’ – FIAU stresses adherence to AML/CFT rules isn’t just an expense
The Unit has witnessed businesses exceeding their mandatory investment in compliance measures
Government spending €5 million a day on pandemic, but tax hikes are ruled out
Finance Minister Clyde Caruana said that economic certainty is a key objective for growth
Coinbase valued at €71.6bn on NASDAQ debut in historic day for crypto
However, concerns are rife about its method of going public, reliance on trading and high price-to-sales ratio
MFSA reinforces commitment to long-term sustainability of financial services sector in strategy update
Organisation lays out its strategic priorities under three key areas
FIAU lays out best practices for mandatory Business Risk Assessments
The FIAU identifies a number of common shortcomings in Business Risk Assessments