Active Group Malta Seminar

The Active Group recently staged the third of a series of seminars aimed at the financial services industry in Malta.

Achieving Effective Customer Due Diligence was covered by four speakers and was once again based at the MFSA Conference Centre.

David Grech of law firm Mamo TCV Advocates opened the sessions by outlining the requirements for customer due diligence and customer acceptance controls under the Malta regulations. Thierry Drot of Business Intelligence Solutions Ltd, Luxembourg then covered the use of information technology and the interaction between IT and human input when determining and controlling money laundering risks generally.

Brian Horsepool, Partner and Director of Active Group, discussed the application of a risk-based approach using a variety of real-life case studies to outline the problems faced by practitioners. Finally, Claire Gauci, Active's Senior Manager in Malta, covered various methods used by money launderers and the tools available to practitioners to identify questionable activities and the training available to ensure effective control of the risks faced by licensees overall.

Active will be arranging further seminars and workshops to cover topics identified by attendees at the seminar, including compliance requirements, use of complex structures, sector specific challenges, etc.

The Active Group is an independent group headquartered in Guernsey providing business support services and regulatory consultancy across the range of financial services businesses. Active employs some 50 staff across its offices based in Guernsey, Jersey, Malta, Isle of Man and Cayman Islands.

Pictured: Brian Horsepool and Claire Gauci