Malta FIAU Launches New System for Reporting Suspicious Transactions
Introduction
In an effort to combat money laundering and terrorism financing, the Financial Intelligence Analysis Unit (FIAU) has introduced a new system for reporting suspicious transactions in Malta. The system, known as goAML, is a software solution developed by the United Nations Office on Drugs and Crime (UNODC), which has been successfully implemented by many financial intelligence units around the world.
About GoAML
GoAML is a software solution designed to provide a more efficient process for reporting entities to submit their suspicious activity or transaction reports. The system allows users to submit reports in a quicker and more streamlined manner, while also improving communication between the FIAU, reporting entities, and stakeholders.
Key Features of GoAML
- Enables reporting entities to submit reports quickly and efficiently
- Improves communication between the FIAU, reporting entities, and stakeholders
- Allows users to choose between XML upload or web reports
- Differentiates between various report types (STRs, SARs, TFRs, etc.)
- Provides feedback on successful submissions
- Handles rejected submissions with automated error correction
Getting Started with GoAML
To begin using the new system, all subject persons must first register on the goAML platform. This can be done by accessing the link provided and contacting email protected if any assistance is required during the registration process.
Registration Process
- Access the goAML platform
- Register for an account
- Contact email @protected if any assistance is required
Technical Reporting Instructions
In addition to the goAML system, the FIAU has also released technical reporting instructions for subject persons. These instructions include:
- A PDF document with technical instructions
- An official XSD (XML Schema Definition)
- Sample XML files
- An XML validator
Assistance with Technical Difficulties
The FIAU is available to assist subject persons who encounter any technical difficulties during the reporting process.
Benefits of GoAML
The new system aims to improve data collection and management, workflows, and the entire analytical process. This will ultimately enable the FIAU to better combat money laundering and terrorism financing in Malta.
Improved Data Collection and Management
Improved Workflows
Improved Analytical Process
By introducing goAML, the FIAU is committed to providing a more efficient and effective system for reporting suspicious transactions, ultimately contributing to a safer financial environment in Malta.