On 1 April 2026, Legal Notices 82 of 2026 and 83 of 2026 were published, amending the Prevention of Money Laundering and Funding of Terrorism Regulations (PMLFTR) the Centralised Bank Account Register (CBAR) Regulations. The amendments introduce a significantly more detailed enforcement framework, expand the FIAU’s toolkit and bring a number of structural changes to the existing regime.
Updated Definitions
The amendments introduce a formal definition of “immovable property agent” under the PMLFTR, referencing the Real Estate Market Agency Act (Cap. 644). Where multiple agents operate through a company, the company itself is treated as the subject person for regulatory purposes.
The Real Estate Market Agency replaces the previous body as the relevant supervisory authority for this sector. The Directorate for Internal Audit and Investigations is also added as a new competent authority. Additionally, the term “AML/CFT obligations” is now formally defined to encompass all obligations arising from the Act, the regulations, and any binding guidance, directives or directions issued thereunder.
Reporting Format Requirements
Amendments to regulation 15 grant the FIAU explicit authority to direct the means and format through which subject persons submit suspicious transaction reports and respond to information demands. This brings a degree of standardisation to reporting channels that was not previously codified.
Settlement Agreements
A new regulation 22 introduces a formal settlement agreement mechanism. Where the FIAU determines that a settlement is in the public interest, it may agree a reduced penalty with a subject person or relevant individual in lieu of enforcement proceedings. Any such agreement must be in writing, signed by both parties, and must include an unconditional admission of the identified contraventions, a commitment to implement any required corrective actions, and a full waiver of appeal rights. The agreement is only considered concluded once signed and the reduced penalty is paid in full.
The FIAU may not enter into more than two settlement agreements with the same subject person within any two-year period, with prior settlements involving other entities within the same group also taken into account. Failure to comply with the terms of a concluded agreement exposes the subject person to the full original penalty and potential civil proceedings.
Additional Administrative Measures
A new regulation 23 empowers the FIAU to impose administrative measures alongside, or instead of, a financial penalty. These include written reprimands, orders to cease non-compliant conduct, compliance orders with set timeframes, and orders restricting or prohibiting specific transactions, products or services, whether temporarily or permanently.
Communication to Supervisory Authorities
Regulation 24 formalises the FIAU’s obligation to promptly notify the relevant supervisory authority whenever it exercises its enforcement powers. The FIAU may also recommend that those authorities take their own regulatory action, including the suspension or revocation of licences and the preclusion of individuals from exercising their functions.
Transitional Provisions
Subject persons with a pending appeal against an existing administrative penalty decision have a six-month window from the date these regulations come into force to request an out-of-court settlement with the FIAU. Any reduction agreed under this route is capped at 50% of the original penalty amount.
Parallel Updates to the Centralised Bank Account Register (CBAR) In tandem with the PMLFTR updates, Legal Notice 83 of 2026 was published to amend the Centralised Bank Account Register Regulations. Crucially for credit and financial institutions, this amendment mirrors the new enforcement frameworks detailed above. The FIAU is now empowered to enter into the exact same Settlement Agreements for CBAR breaches and is subject to the same obligations regarding Supervisory Communication. Additionally, the amendment slightly expands the FIAU’s ability to access and utilize CBAR data to respond to justified requests from other competent authorities and equivalent foreign bodies.
Subject persons should review these changes carefully to determine whether adjustments to internal policies, reporting procedures or governance frameworks are required.
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