Attendance to the Malta Workshops: Small International Financial Centres

Members of the AFA attend the Malta Workshops, a series of virtual workshops exploring the particularities of small international financial centres, the associated challenges they face in keeping financial flows transparent, and areas where increased cooperation would bring about tangible results on the world stage.

Specifically, the AFA attends:

• Workshop 1: AML Risks of High Worth Individuals

This workshop examines the ways by which the interest of attracting lucrative business on the one hand can be balanced with the need of preventing sanctions evasion. Best practices and possible avenues for cooperation are also explored.

• Workshop 5: Supervision and licensing practices relating to sectors with minimal physical presence

This workshop discusses the risks involved with such business concepts as well as best practices in terms of physical presence requirements and the challenges associated with the AML/CFT supervision of virtual service providers of any type. Supervisory practices that help reduce the risks are presented and discussed.