Bank of Valletta and the Malta Police Force have signed a Memorandum of Understanding to raise public awareness on the ever-evolving tactics of fraudsters and scammers and to enhance protection for customers and society at large.

The MoU was signed by Bank of Valletta CEO Kenneth Farrugia and Police Commissioner Angelo Gafà in the presence of Ryan Caruana, Chief AFC Officer at Bank of Valletta and Assistant Commissioner Fabian Fleri who heads the Malta Police Financial Crime Investigations Department.

Through this three-year agreement, BOV and the police will carry out joint initiatives to improve people’s resilience against financial crime, through education campaigns, the timely exchange of intelligence, strengthened investigative capabilities through shared expertise and training, and enhanced customer protection mechanisms.   

“Financial Crime includes a wide spectrum of offences ranging from financing of terrorism, bribery, corruption, scams and fraud,” Mr Farrugia said.

“We have been working closely with the Police to protect our customers and society at large from these serious offences by sharing information and working closely on ongoing investigations.”

“With this partnership, we are going a step further by organising joint initiatives such as awareness campaigns and exploring ways to protect our society from the ever-changing tactics and trends of fraudsters and scammers.”

Mr Gafà warned that criminality is rapidly evolving, and financial crime is increasingly moving online, where prevention and detection are significantly more complex.

He said that the collaboration with BOV will help the police adapt beyond traditional approaches and improve their ability to detect, prevent and respond to emerging challenges proactively and effectively.