Malta Strengthens its Fight Against Money Laundering and Terrorism Financing

New Reporting System Implemented by the FIAU

In an effort to enhance its defenses against money laundering and terrorism financing, the Malta Financial Intelligence Analysis Unit (FIAU) has introduced a new Suspicious Transaction Reporting (STR) system. The goAML software solution, developed by the United Nations Office on Drugs and Crime (UNODC), replaces the previous STR Submission System and is already being utilized effectively by numerous Financial Intelligence Units globally.

Key Features of the New System

• Improved Data Collection and Analysis: The new system enables more efficient data collection and analysis, making it easier for reporting entities to submit suspicious activity or transaction reports.
• Enhanced Communication Flow: goAML improves communication between the FIAU, reporting entities, and stakeholders, resulting in a smoother process of data and document collection, management, workflows, and analytical processes.

Registration and Reporting Process

To start using the new system, subject persons must register on the goAML platform by following these steps:

• Registration on GoAML: All subject persons are required to register on the goAML platform in order to submit any suspicious activity or transaction reporting.
• Choose Type of New Reports: Once registered, users can choose between XML upload or Web Reports to report relevant suspicious activity or transactions, including any documentation corroborating the suspicion.
• Submit and Await Feedback: After including all information and documentation, reports can be saved and submitted. The user will receive feedback regarding the success of the submission.

Technical Reporting Instructions

In preparation for the implementation of goAML, a Technical Workshop was organized for top reporting entities on the implementation of the XML Schema. A technical package is available, which includes:

• PDF Document with Technical Instructions
• Official XSD (XML Schema Definition)
• Sample XML Files
• XML Validator

Subject persons who encounter any technical difficulties can contact the FIAU via the Contact page.

The new goAML system is expected to enhance Malta’s efforts against money laundering and terrorism financing, making it easier for reporting entities to submit suspicious activity or transaction reports and improving communication flow between stakeholders.