GFSC RECOGNISE MALTA AS AN EQUIVALENT JURISDICTION
05/09/2025
The GUERNSEY Commission [GFSC] has today updated the Handbook on Countering Financial Crime and Terrorist Financing (the “Handbook”) to include Malta in the Appendix C list of equivalent jurisdictions.
Appendix C to the Handbook lists those countries or territories which the Commission
- Considers requiring businesses to have in place measures consistent with the FATF Recommendations and
- Where such companies are appropriately supervised for compliance with those requirements.
However, the GFSC says the inclusion of a country in Appendix C.
- DOES NOT SIGNIFY THAT IT IS INTRINSICALLY LOW-RISK.
Malta’s addition to Appendix C means that, in certain circumstances specified in the Handbook,
- Specific customer due diligence (CDD) concessions may be applied to businesses connected with the jurisdiction.
Firms must ensure that in determining the application of those CDD measures WHICH APPLY ONLY WHERE THE RISK IS LOW,
- That their CUSTOMER RISK ASSESSMENTS [CRA’s]
- CONSIDER all relevant risk factors and
- NOT solely by reference to the jurisdiction’s inclusion on Appendix C.
SOURCE
- AML/CFT Handbook - Appendix C Update - 4th September 2025
- https://www.gfsc.gg/news/amlcft-handbook-appendix-c-update
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As well as owning and publishing Comsure's copyrighted works, Comsure wishes to use the copyright-protected works of others. To do so, Comsure is applying for exemptions in the UK copyright law. There are certain very specific situations where Comsure is permitted to do so without seeking permission from the owner. These exemptions are in the copyright sections of the Copyright, Designs and Patents Act 1988 (as amended)[www.gov.UK/government/publications/copyright-acts-and-related-laws]. Many situations allow for Comsure to apply for exemptions. These include 1] Non-commercial research and private study, 2] Criticism, review and reporting of current events, 3] the copying of works in any medium as long as the use is to illustrate a point. 4] no posting is for commercial purposes [payment]. (for a full list of exemptions, please read here www.gov.uk/guidance/exceptions-to-copyright]. Concerning the exceptions, Comsure will acknowledge the work of the source author by providing a link to the source material. Comsure claims no ownership of non-Comsure content. The non-Comsure articles posted on the Comsure website are deemed important, relevant, and newsworthy to a Comsure audience (e.g. regulated financial services and professional firms [DNFSBs]). Comsure does not wish to take any credit for the publication, and the publication can be read in full in its original form if you click the articles link that always accompanies the news item. Also, Comsure does not seek any payment for highlighting these important articles. If you want any article removed, Comsure will automatically do so on a reasonable request if you email info@comsuregroup.com.