Administrative Penalties

Administrative Penalties

As of 23 April 2020, the Sanctions Monitoring Board is empowered to mete out administrative penalties for any violation of Article 17(6) of the National Interest (Enabling Powers) Act. Any legal or natural person conducting a relevant activity or relevant financial business as defined in the Prevention of Money Laundering and Funding of Terrorism Regulations found in violation of Article 17(6) will be held liable.

The administrative penalties may be meted out directly by the Sanctions Monitoring Board without recourse to court proceedings. The penalties may be imposed as a one-time fixed sanction or as a daily cumulative sanction or both. One-time fixed sanctions range from one hundred Euros (100€) to three hundred Euros (300€) for every separate contravention and from three hundred (300€) to eight hundred Euros (800€) for serious, repeated and systematic contraventions. Daily cumulative penalties range from fifty Euros (50€) up to a total of one thousand Euros (1000€). In addition, the Board may issue directives requiring any person to take action to remedy the contravention.

Address
Ministry for Foreign and European Affairs and Trade
Palazzo Parisio
Merchants Street
Valletta, VLT 1171
Malta
18, Zachary Street
Valletta
Malta
331, Allied House
St. Paul Street,
Valletta, VLT 1211
Malta
172, Melita Street
Valletta
Malta

Telephone
2124 2191
2124 2191

Fax
2123 6604
2123 6604

Email