The Malta Institute of Accountants would like to remind its Members about the Annual Compliance Report ‘ACR’ (together with any related documentation or accompanying form) to be submitted to the Financial Intelligence Analysis Unit ‘FIAU’ by 31 May 2013.

 

On 3 May 2013, the FIAU issued a notice about the new website and the online facilities available to submit the ACR, Suspicious Transactions Reports ‘STRs’ and the MLRO Details Sheet.

 

Those natural persons who undertake any relevant financial business and/or relevant activity in their own name or under a trade name and who do not employ or otherwise engage anyone else to handle any such business or activity, are entitled to complete the ACR for Sole Practitioners, which is an abridged version of the standard ACR form.

 

The standard and abridged ACR forms, and the relevant Guidance Notes, are available on the FIAU website.

 

Auditors, external accountants and tax advisers who do not undertake any relevant activity (as defined in Regulation 2 of the Prevention of Money Laundering and Funding of Terrorism Regulations), either on a full-time or part-time self-employed basis, are required to inform the FIAU of their position by submitting Declaration A.

 

Auditing, accounting and law firms that are not legal persons could submit a single report on behalf of the individual subject persons (i.e. auditors, accountants, tax advisers, advocates, legal procurators and notaries) who are either employed or provide their services through the firm.  In this regard, Declaration B should be completed and uploaded on the FIAU website together with the ACR.

 

The full notice issued by the FIAU (2013.05.03 – ACR 2013 – Notice.pdf) is accessible from the Anti-Money Laundering e-library section on the MIA website. Log in is required.