The Guidance Document for Credit Institutions, Payment Institutions and Electronic Money Institutions opening accounts for FinTechs has been jointly published by the Malta Financial Services Authority and the Financial Intelligence Analysis Unit, following a public consultation issued on the 27th March 2019.
The Guidance Document aims to assist the Institutions in developing a better understanding of the risks concerning customers of the Fintech realm, to allow these Institutions to offer their services to such customers while ensuring full compliance to the Prevention of Money Laundering and Funding of Terrorism Regulations.
The full document can be found here.
Disclaimer
This document does not purport to give legal, financial or tax advice. Should you require further information or legal assistance, please do not hesitate to contact info@mamotcv.com