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Suspicious Transaction Report (STR) Template for Financial Institutions in Malta

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The Financial Intelligence Analysis Unit (FIAU) requires financial institutions in Malta to submit a Suspicious Transaction Report (STR) when they suspect or have knowledge that a transaction might be related to money laundering or terrorist financing.

Key Points from the STR Document

• Identification of the Reporting Entity: The form requires the reporting entity’s name, address, and type.
• Identification of the Subject Being Reported: This includes details about the individual or business being reported, such as their name, date of birth, nationality, and other identifying information.
• Suspicious Activity Report: The report must describe the suspicious activity in a clear and chronological manner, including what is unusual, irregular, or suspicious about the person, transaction, or activity.
• Documents Attached to this STR: A list of documents attached to the report.

Key Sections of the STR

Section B - Reason for Reporting

This section requires the reporting entity to explain why they are submitting the STR.

Section D - Product Information

If the reporting entity has provided any financial products or stored monetary value, this section must provide details about those products.

Section E - Suspicious Transaction/Activity

If a specific set of transactions or a single transaction is considered suspicious, this section requires details about those transactions.

Section G - Explanation/Description of Suspicious Transaction/Activity

This section should provide a complete and clear description of the suspicious transaction/activity.

Submission

The FIAU encourages reporting entities to submit STRs using their online portal. However, if submitted by hand, the MLRO must sign the form and deliver it to the FIAU offices.