Functions

The main functions of the FIAU in its role as the AML/CFT regulator are: Intelligence Analysis, Supervision, Enforcement, Cash Restriction and CBAR Management.

 

These are explained in detail in this section. The importance of each of these functions and the entailed processes are explained in full detail, for a better understanding of the role the FIAU has in the fight against ML/FT.

Intelligence Analysis

The role of the Intelligence section is the collection, processing and analysis of information that is obtained from various domestic as well as international sources.

Supervision

The role of the Supervision Section, stems from Article 16(1)(c) of the PMLA. It revolves around monitoring AML/CFT compliance by subject persons who carry out relevant financial business or relevant activity in terms of Regulation 2 of the PMLFTR. 

Enforcement

The The role of the Enforcement Section is to determine the administrative measures necessary in relation to identified AML/CFT breaches, and to subsequently ensure, by engaging with subject persons, that the failures identified are remediated.

CBAR

The Centralised Bank Account Register (CBAR) is a data collection and retrieval system for information on accounts identifiable by IBAN, safe deposit boxes and safe custody services provided by credit and financial institutions within the Maltese territory.

Use of Cash (Restriction) Regulations

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