The Financial Intelligence Analysis Unit (FIAU) welcomes the communication issued by the United Nations Office on Drugs and Crime (UNODC), entitled “Turning routine checks into real protection”, which highlights the collaboration between the UNODC and the FIAU in the development and piloting of goSENTINEL, a digital platform tailored to support risk-based Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT) supervision.
Developed and customised for the FIAU, goSENTINEL will support a more data-driven and technology-enabled approach to compliance supervision. Designed around the supervisory lifecycle, the platform will enable the FIAU to manage compliance examinations and other supervisory interventions across more than 2,200 reporting entities.
The platform brings together a range of supervisory functions within a single integrated environment, including case management, obligation-based compliance testing, document and communication tracking, workflow automation, task management, events and notifications. It can also be integrated with other UNODC anti-money laundering software, including goAML and goCASE.
UNODC worked closely with Malta for more than a year to develop and customise goSENTINEL in line with national requirements, which are largely based on EU AML/CFT directives. This collaboration will continue throughout the implementation, testing and further development phases, helping ensure that the platform continues to evolve in line with operational needs.
As noted by Mr Alfred Zammit, Director of the FIAU, goSENTINEL will support Malta’s efforts to optimise compliance activities and make them more data-driven. The platform will also contribute towards strengthening accountability, traceability and workflow management through technology-enabled solutions.
The collaboration represents an important step in the FIAU’s continued efforts to strengthen its supervisory capabilities and make effective use of technology and data in carrying out its AML/CFT responsibilities.
The full UNODC publication, “Turning routine checks into real protection”, is available here: Read the full UNODC story.