The Malta Financial Services Authority (‘MFSA’) and the Financial Intelligence Analysis Unit (‘FIAU’) have published a Guidance Note entitled “Guidance for Credit Institutions, Payment Institutions and Electronic Money Institutions opening accounts for FinTechs”, on the 17th June 2019.
This Guidance Note outlines best practices and risk management procedures to be followed in order to effectively mitigate cyber risks. Moreover, this version reflects the industry’s reaction to the MFSA’s public consultation issued in March 2019.
The Guidance Note can be downloaded from the MFSA’s Website.
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