ARQ Group and Malta Bankers’ Association to host conference on the FATF plenary decision – understanding the implications and charting the next steps

Against the backdrop of the recent FATF plenary decision to add Malta to the list of countries with strategic deficiencies, ARQ Group in collaboration with the Malta Bankers Association (MBA) will be organising the annual Anti Money Laundering (AML) and Financial Crime Conference titled “Fostering an enduring compliance culture in Malta. The FATF plenary decision – understanding the implications and charting the next steps”.

The event will be held online over two afternoons on 7 and 8 July.

The webinar will bring together a prominent line-up of local and international speakers who will attempt to unravel the implications of this decision and discuss the potential impact on various sectors. Some of the foremost authoritative global figures in the AML/CFT sphere will be sharing their views with the audience, together with the CEOs of the major domestic banks, industry representatives and professional body representatives, together with senior Government officials and supervisors as well as representatives from law-enforcement bodies.

“It is a fact that the country has come a long way since the initial MONEYVAL assessment in 2019, with the National Coordinating Committee working together with other stakeholders to implement a host of reforms to ensure Malta fulfils its AML and FCC obligations. Yet the FATF decision has shown us that there is still much that we have to do as a country. Thus we need to remain at the forefront of implementing further reforms which build on the significant work undertaken in the past months,” said Karol Gabarretta – Malta Bankers Association, Secretary General.

He added: “As in previous years, we are collaborating with ARQ Group to bring all the relevant stakeholders together in one event so as to achieve a mutual understanding of the FATF decision and its implications, both for the public and private sector and determine the best way forward.”

ARQ Group Managing Partner Dr Manfred Galdes said: “As a country under increased scrutiny, our priority should be to regroup and make sure that every effort is made to convince the international bodies that the compliance culture being cultivated within the country is an enduring one. The FATF has for the past decade focused its attention on effectiveness rather than technical compliance and so every effort henceforth both in the public and private sector should be aimed at ensuring that the country reaches the highest level of effectiveness when applying the enforcement, supervisory and preventive measures catered for in our legislation”.

The panel discussions planned for the webinar will include internationally-renowned experts who have been involved in the FATF/MONEYVAL evaluation process for several years, including Yehuda Shaffer and Dr Giuseppe Lombardo.