Publication Date: 1 April 2026
Legislative Instruments: Legal Notice 82 of 2026 and Legal Notice 83 of 2026
Malta’s AML/CFT legislative framework was amended through the publication of Legal Notice 82 of 2026, which amends the Prevention of Money Laundering and Funding of Terrorism Regulations (PMLFTR), and Legal Notice 83 of 2026, which amends the Centralised Bank Account Register (CBAR) Regulations. Both legal notices were published in the Government Gazette on 1 April 2026.
The amendments introduce a number of changes aimed at strengthening the regulatory and enforcement framework applicable to anti-money laundering and counter-terrorist financing obligations.
Introduction of Settlement Agreements
One of the principal amendments introduced by both legal notices is the inclusion of a formal settlement agreement mechanism.
Under the revised framework, the Financial Intelligence Analysis Unit (FIAU) may enter into a settlement agreement with a subject person in relation to an administrative penalty. The mechanism allows for a reduction in the administrative penalty where the subject person:
- Unconditionally accepts the FIAU’s findings;
- Undertakes to implement any remedial actions required; and
- Waives any right to appeal the penalty.
The amendments also establish conditions and limitations governing the use of settlement agreements, including restrictions on the frequency with which such agreements may be concluded.
Expansion of the Definition of Competent Authority
Legal Notice 82 of 2026 expands the definition of competent authority within the PMLFTR framework. The amended definition now includes additional public authorities, namely:
- The Security Service;
- The Sanctions Monitoring Board; and
- The Internal Audit and Investigations Directorate.
This amendment broadens the range of authorities that may exercise functions and receive information under the AML/CFT framework.
Amendments to the Centralised Bank Account Register Framework
Legal Notice 83 of 2026 introduces related amendments to the CBAR Regulations.
Among other changes, the amendments provide for enhanced information-sharing arrangements involving competent authorities and foreign or supranational bodies performing equivalent functions. The amendments also introduce provisions regulating the operation of settlement agreements within the CBAR enforcement framework.
Entry into Force
The amendments entered into force following their publication in the Government Gazette on 1 April 2026 and form part of Malta’s ongoing efforts to enhance its AML/CFT legislative framework.