Malta Government Urges Public to Report Suspicious Transactions

Fighting Money Laundering and Terrorism Financing

The Financial Intelligence Analysis Unit (FIAU) in Malta is calling on the public to report any suspicious transactions that may be related to money laundering or terrorism financing. The unit, established under the Prevention of Money Laundering Act (Cap 373 of the Laws of Malta), plays a vital role in collecting and analyzing information to prevent such illicit activities.

What is the FIAU’s Main Objective?

The main objective of the FIAU is to combat money laundering and the funding of terrorism by monitoring compliance with relevant laws and regulations. As part of its efforts, the unit relies on tips from members of the public who may have come across suspicious transactions or activities.

How Can You Report Suspicious Transactions?

You can report a suspicious transaction anonymously through:

• The FIAU’s website
• Contacting your local bank

The unit’s experts will assess the information and take necessary action to prevent any potential money laundering or terrorism financing.

Examples of Suspicious Transactions to Report

Some examples of suspicious transactions that people should report include:

• Large cash deposits
• Unusual payments to offshore accounts
• Transactions involving high-risk countries

Reporting such activities can help protect the integrity of Malta’s financial system and prevent illicit funds from entering the country.

Collaboration with Law Enforcement Agencies

The FIAU is committed to working closely with law enforcement agencies and other stakeholders to disrupt and dismantle money laundering and terrorism financing networks. By reporting suspicious transactions, members of the public can play a crucial role in supporting these efforts.