Avv. Carmela Loredana Umbro

The presentation will seek to highlight the importance of properly determining beneficial ownership, some of the more common difficulties encountered in the interpretation and application of this notion and the efforts made by the FIAU to ensure the correct application thereof.

Dr. Rakele Cini

Beneficial ownership has taken the spotlight in recent months. Changes that have taken place locally, including the endeavours to exit the FATF’s greylist, have impacted practitioners considerably. Dr Rakele Cini will be delivering a session with an overview of the definition of “beneficial owner” and the most recent changes to this important definition.

Speaker

Avv. Carmela Loredana Umbro joined the FIAU in 2014 and has been involved in multiple projects related to AML/CFT. She forms part of the Guidance and Outreach Team within the FIAU’s Legal Affairs Section. Her team is responsible for identifying and responding to the AML/CFT needs of subject persons through the drafting of guidance documents and the participation in outreach efforts in the private and public sector in the area of AML/CFT, among various other tasks and projects.

Carmela holds previous experience in the civil and commercial law sector.  Carmela obtained her Master Degree in Law (summa cum laude) from the University of Rome “La Sapienza” and is a warranted lawyer. Carmela is also a Certified Anti-Money Laundering Specialist (CAMS).

Dr Rakele Cini is an independent legal consultant with many years of experience in AML/CFT, regulatory and compliance advisory. She primarily advises local & international firms / practitioners operating within the regulated industries on matters relating to the prevention of money laundering & funding of terrorism, due diligence, risk management, good governance, and other compliance areas. She is invited to lecture regularly by private institutions and regulatory bodies on these topics. She was previously head of Risk & Compliance at BDO Malta and, prior to that, formed part of the practice protection group at Deloitte Malta for numerous years. Rakele is an active member of the PMLFT sub-committee at the Malta Institute of Accountants and the Institute of Financial Services Practitioners.

 

Events Resources

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