Financial Crime World

Malta’s Financial Intelligence Unit: The Frontline Against Money Laundering and Terrorism Funding

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Malta’s Financial Intelligence Analysis Unit (FIAU) was established on October 1, 2002, with the goal of safeguarding the country’s financial system from criminal abuse. As the national central agency responsible for combating money laundering and terrorist funding, the FIAU has been working tirelessly to identify and disrupt illegal activities.

History and Responsibilities

The FIAU is headed by a Director who is assisted by permanent staff operating in eight distinct sections:

  • Collecting, collating, processing, analyzing, and disseminating information to law enforcement agencies
  • Operating autonomously from its own offices with its own staff, allowing for quick response to emerging threats

Board of Governors

The FIAU’s Board of Governors is responsible for setting policy, which is executed by the Director. The Board ensures that the Director carries out his duties accordingly, providing a checks-and-balances system to ensure effective governance.

Vision and Mission

The FIAU’s vision is clear: “A reputable financial system safeguarded from criminal abuse that serves the legitimate expectations of society and the business community.” This inspiring statement drives the unit’s daily work, giving it purpose and motivating its staff to strive for greater successes.

Organizational Structure

To achieve this vision, the FIAU has a robust organizational structure in place:

  • The Board of Governors sets policy
  • The Director executes and pursues that policy
  • A team of experienced professionals works across eight sections, including:
    • Intelligence analysis
    • Technology and information security

Conclusion

As the frontline against money laundering and terrorist funding, the FIAU plays a critical role in protecting Malta’s financial system and upholding its reputation as a reputable financial hub. With its clear vision, robust governance structure, and dedicated staff, the FIAU is well-equipped to meet this challenge head-on.