Publication of 2019 FIAU Annual Report


News 2

February 17, 2020

15th June 2020

Publication of 2019 FIAU Annual Report and the FIAU’s Rebranding

We are pleased to inform you that the FIAU’s Annual Report for 2019, which outlines our achievements against our objectives, as well as our priorities for the coming period, is available on our newly launched website.

The Unit’s mission has always been to assist Malta in its fight against money laundering, terrorism financing and other financial crimes. In order to strengthen our ability to do so, we have invested considerable time, effort and financial resources to bolster our capabilities; adding personnel, overhauling our procedures, increasing training, as well as investing in new technologies. You will see from our report how this investment is bearing fruit, with a meaningful increase in enforcement measures, inspections and STRs (Suspicious Transaction Reports). We have also taken a lead in tightening AML/CFT legislation to help Malta meet its international obligations.

Ensuring that we communicate effectively is crucial for the success of the FIAU. Our stakeholders must be able to understand our mission, the resources we can deploy to help them, and also what is required of them. That is why we are transforming the way in which we communicate.  Alongside the publication of our Annual Report, we are pleased to announce the launch of our brand new website together with fresh branding for the Unit which better reflects its identity and comes at an opportune moment as the FIAU continues to develop and take on new functions, such as those of implementing Malta’s cash limitation policy as well as setting up and administering Malta’s centralised bank account registry.

Our investment in digital communications will make it easier for users to source the information they need as well as provide us with the data we require. It will better explain our mission, how we work with other Maltese agencies and organisations, and how we collaborate with international bodies in the fight against money laundering. On our website you will also find a video with a series of inspirational interviews that showcase the Authority’s most precious asset – our people. We hope you can take the time to watch it (click here), and learn more about our recent initiatives.

We believe our investment in digital communications and technology has proved to be prescient.

During the COVID pandemic and lockdown, like other organisations, we have had to pivot to a ‘virtual’ offering to ensure we can sustain our mission, and we have done so successfully. Throughout April and May, the FIAU enforcement teams continued to execute supervisory examinations and virtual visits to ensure that companies continued to meet their regulatory observations.

Going forward, we will continue to upgrade and strengthen our capabilities to ensure the FIAU is more than ‘fit for purpose’ in its mission to combat money laundering.

Annual Report
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