The MBA’s Assistant Secretary General, Ms Rita Sammut Buontempo, recently participated in a panel discussion entitled ‘Industry Perspectives and Challenges’, on the second day of a 2-day conference Financial Crime Compliance in the EU, Risk-Based Approach, AMLA and Beyond Agenda organised by the Malta Financial Services Authority (MFSA).
Ms Cynthia Borg (APS Bank plc) also participated on behalf of the MBA, in the panel discussion, which was moderated by Ms Vanessa MacDonald (MFSA).
The panel discussed the potential impact, on the local banking industry, especially with regard to human and IT resources, of various evolving developments in the EU AML/CFT arena, including the creation of a new Anti-Money Laundering Authority; an overhaul of AML/CFT legislation at a European level including the new European Commission AML Package and AML/CFT RuleBook, with the main objective of creating more cooperation and convergence across EU member states.
