The paper seeks to share the money laundering threats that ensue from current patterns in international criminal activity and the anti‐money laundering compliance work that is put up at the Malta Stock Exchange (MSE).
The paper sets out by sketching the general demographic and economic background of Malta as a small jurisdiction and member state of the European Union since 1 May 2004. It provides a view of the problem posed by the recently pronounced phenomenon of irregular migration and illegal immigration into Malta as well as a general overview of the AML regime that applies under Maltese law. The paper then dwells on the AML compliance function that the MSE pursues while discussing the procedures that are put in place to detect, monitor and eventually report any suspicious dealing on the securities market.
The paper highlights practical and concrete procedures of prevention of money laundering in the securities market and the synergy that results from effective cooperation between the securities markets and investigative and law enforcement agencies or judicial organs.
Any effective domestic and international AML strategy will, however, always rely on mutual cooperation governance arrangements and the good reputation of market players as a prerequisite for the extensive intelligence necessary to combat money laundering and terrorist financing.
The paper reports on the way small securities markets could efficiently and effectively involve trading procedures and clearance and settlement facilities in the ongoing fight against money laundering and terrorist financing.
