The Financial Intelligence Analysis Unit (FIAU) has issued a guidance paper for the immovable property sector. These newly introduced guidelines analyse the risk factors, mitigating measures and red flags relating to transactions involving immovable property. It is expected that all subject persons, including notaries and real estate agents have measures in place both to identify ML risks and apply the respective risk mitigation measures proposed by these guidelines when assisting / servicing clients in property transactions. The guidelines apply both for transfers and leases / rentals of immovable property. Given the magnitude of immovable property transfers in Malta, these guidelines are of utmost importance.
A copy of these guidelines can be found on this link:
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