MLT FIU informed interested parties, especially those subject persons involved in the transfer of funds and of crypto-assets, of EBA new Guidelines on so-called travel rule.
Explain how certain provisions of recast of Transfer of Funds Reg 2023/1113 requiring data to accompany transfers of funds, certain crypto-assets must be complied with.
Outline necessary information that must accompany transfer, detail steps that payment service providers (PSPs), intermediary PSPs (IPSPs), crypto-asset service providers (CASPs), intermediary CASPs (ICASPs) must take to identify missing/incomplete data.
Also specify how said information is to be transmitted, characteristics of systems to use to send said information, actions to take if a transfer lacks required information.
The aim is to create a uniform and effective method for applying travel rule across EU.
Enable relevant authorities to fully trace these transfers when needed to prevent, detect, or investigate money laundering and terrorist financing.
To replace current Joint Guidelines under art 25 Reg 2015/847 (JC/GL/2017/16).
MLT FIU is set to adopt these guidelines as its own through revision of existing documents, including Implementing Procedures Part II for the VFA Sector.
Pending completion of revision, anyone interested can consult the guidelines online.
Effectiveness
The guidelines apply as of Dec. 30, 2024; MLT FIU to notify compliance in due course.
