Business Profile

Our Purpose

To protect Malta’s financial system and the community from serious crime by combating money laundering and funding of terrorism, through the generation and dissemination of useful intelligence, and the application of effective and proportionate preventative measures, in collaboration with our private and public sector partners.

About the FIAU

The Financial Intelligence Analysis Unit is Malta’s Financial Intelligence Unit and the sole regulator for the obligations related to Anti Money Laundering and Counter Funding of Terrorism within the financial sector. It is responsible for the collection, collation, processing, analysis, and dissemination of information to combat money laundering and the funding of terrorism. The Unit does not have criminal investigative powers, nor can it criminally prosecute. Since it became operational on 1st October 2002, the Unit’s scope has however broadened. Therefore, our purpose is met by the performance of the below functions:

• Intelligence

• Supervision

• Enforcement (Administrative)

• Administering the Centralised Bank Account Register

• Monitoring compliance with the Use of Cash (Restriction) Regulations

• Guidance & Outreach

The FIAU was established by virtue of Legal Notice 297 of 2002, which brought into force the comprehensive amendments to the Prevention of Money Laundering Act (Act XXXI of 2001). Though set up as an agency within the ministry responsible for finance, the Unit has a separate judicial personality and operates autonomously and independently.

The responsibilities related to the governance of the Unit are divided among the Board of Governors and the Director, with the Board establishing the policy and the Director being tasked with the execution of that policy. The Director is also responsible for carrying out all other functions of the Unit not attributed to the Board by the Prevention of Money Laundering Act.