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The Financial Action Task Force (FATF) maintains a "grey list" of countries with strategic deficiencies in their anti-money laundering and counter-terrorism financing (AML/CFT) frameworks. These jurisdictions are included when they fail to meet FATF standards or if there are concerns about their AML/CFT measures. Reasons for inclusion on the list include weak AML/CFT frameworks, insufficient customer due diligence, lack of cooperation, and presence of terrorist financing. Being on the grey list brings increased international scrutiny, impacts access to global financial systems, and affects a country's economy and reputation. To be removed from the list, countries must address the identified deficiencies and demonstrate progress in strengthening their AML/CFT frameworks.

In an era where sustainability is not just a buzzword but a business imperative, Malta has marked a significant milestone with the issuance of its first green bond. This pioneering move not only reflects the market’s early steps in the commitment to sustainable development. It is a signal that there are new financing avenues for companies looking to contribute to a greener future. But how does a company in Malta issue a green bond? This article provides a simple guide, outlining the main steps and key considerations for companies who are interested in raising capital for environmentally friendly purposes.

Explore the Notional Interest Deduction (NID) and its role in reshaping financing strategies for businesses. Learn how NID bridges the gap between debt and equity financing, offering tax-efficient alternatives. Discover the mechanics of NID, including calculation methods and limitations. Consult the expert advisors at Grant Thornton Malta for personalized tax-saving solutions and embark on a rewarding journey towards financial success.

This expansion implies that the updated Guidelines will now offer insights into the mitigating measures that should be adopted. The document explains how CASPs can tailor their risk mitigation strategies, incorporating the utilization of blockchain analytics tools. Moreover, it provides guidance to other financial institutions and credit entities that either have CASPs as clients or are exposed to crypto assets.

As the video gaming landscape continues to evolve, Malta has seized the opportunity to position itself at the forefront of this digital revolution. From the establishment of international video game development studios to the hosting of major gaming events, Malta is carving a niche for itself in an industry that knows no boundaries. This insight delves into the recent Playcon 2023 event, where Grant Thornton played a pivotal role in facilitating a panel discussion on "Unleashing Potential: Growing Your Games Business in Malta."

The subject persons are encouraged to provide their input, as the 'Travel Rule Guidelines' aim to standardize the implementation of EU law and the framework for combating money laundering and terrorism financing.

Responding to the surge in cyber threats coupled with a corresponding escalation in costs associated with cyber security without compromising your long-term business strategy is a significant hurdle. Because of this, Virtual CISO Services emerges as the pragmatic leadership choice for small and medium-sized enterprises.

DORA, a comprehensive regulation, extends its scope across more than 20 various financial entities and encompasses a significantly larger number of competent authorities (CAs). Thus, to ensure a proportionate approach, the ESAs (EBA, EIOPA and ESMA) have established a Joint Committee on Digital Operational Resilience.

Shaping Malta's Future 2023

The primary objective of the regulation is to strengthen the digital operational resilience of entities operating within the EU financial sector and to promote greater consistency in essential digital operational resilience standards for all financial entities across the European Union.

Grant Thornton Malta, in association with 12 Grant Thornton member firms in Europe are launching the very first study aimed at establishing an overview of the DPO (Data Protection Officer) function in the main European countries. This survey, of about 8 minutes, will allow us to establish a precise inventory, revealing the reality of the today's DPO function not only in Malta but also in our principal European neighbors. As part of the response analysis, you may be asked by our teams for an interview to comment on the results. Please note that the questionnaire is active until December 15, 2023. We sincerely appreciate the time you have taken to contribute to this study.

In an era where digitalisation is the lifeblood of business operations, Small and Medium Enterprises (SMEs) stand at the intersection of opportunity and vulnerability. The Digital Operational Resilience Act (DORA) Regulation is approaching, ushering in a new era of compliance requirements. Yet, for SMEs, DORA is not merely a challenge in terms of compliance; it presents a distinctive opportunity to strengthen their digital infrastructure and secure long-term success in the constantly changing digital environment.

The Financial Action Task Force (FATF) maintains a "grey list" of nations that exhibit strategic shortcomings in their efforts to combat money laundering and the financing of terrorism (AML/CFT). These countries are added to the list when they do not meet FATF standards or if concerns arise regarding their AML/CFT practices. Being placed on the grey list leads to heightened international scrutiny, impacts a nation's access to global financial systems, and has repercussions on its economy and reputation. To exit the list, countries must rectify the identified deficiencies and demonstrate progress in fortifying their AML/CFT systems.

In an era marked by the rapid ascent of artificial intelligence (AI), governments and regulatory bodies worldwide are navigating the complex terrain of AI governance. At the forefront of these efforts is the European Union’s proposed “Artificial Intelligence Act.” This comprehensive regulation aims to harmonize AI rules across the EU, fostering innovation while safeguarding fundamental rights and values.

In the dynamic landscape of contemporary business, the perpetual existence of uncertainties consistently influences the path of organizations. The way these uncertainties are recognized, evaluated, and handled plays a pivotal role in shaping an organization's trajectory. This is where ISO 31000 comes into play, offering invaluable guidance for proficient risk management.

In line with the European Commission’s shift to a legislative approach to AI, a regulation has been proposed which harmonises rules on artificial intelligence across the European Union. The proposed law intends to maintain control over the rapid development of these new technologies, whilst allowing innovation and optimising operations at the same time.