The Financial Intelligence Analysis Unit (FIAU) has published a factsheet on tax-related money-laundering typologies and red flags, with the aim of providing more guidelines on the subject.
The factsheet is predominantly based on a strategic analysis conducted by the FIAU’s Intelligence Analysis section on Suspicious Transaction Reports (STRs) that have a tax offence as the indicated predicate offence. A consultation exercise was launched for feedback on the content of the factsheet with the Malta Institute of Accountants, the Malta Institute of Taxation and the Commissioner for Revenue.
Apart from the inclusion of typologies and red flags, a number of case studies are incorporated to further assist subject persons in identifying red flags and typologies associated with tax-related money laundering. The factsheet is being published to increase subject persons’ knowledge and to enrich their ability to detect, question further and also report situations where they suspect that their services are, have been, or might be used to launder funds connected to serious tax evasion.
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