On 10th May 2021 the Malta Financial Services Authority (MFSA) released the news that it has signed a Memorandum of Understanding with the Malta Police Force as a testament to the strong cooperation that the two entities will be sharing from now on in an effort to fight financial crime.
The MFSA has recently scaled up the actions taken to ensure that financial sectors do not fall under misuse for criminal purposes, and has proactively sought to reinforce its relations with key partners and international and national stakeholders.
Dr. Christopher Buttigieg, Chief Executive Officer ad interim and Chief Officer Supervision of the MFSA signed on behalf of the Authority, whilst Police Commissioner Angelo Gafà, signed on behalf of the Malta Police Force.
The Memorandum acts not only as a reminder of the bond between the two entities but also allows for further arrangements for mutual assistance such as cross-referencing of information and other operations.
Malta has geared up as Compliance and anti-money laundering have been shown to be taken very seriously by the Maltese Government. It is therefore of primary importance for businesses to adhere to the strict rules and regulations set forth. CSB Group provides an exhaustive list of services one can avail themselves of: its Risk and Compliance unit offers Regulatory Compliance, General Data Protection Regulation (GDPR), AML/CFT Compliance Services, and the Regulated Financial Services unit provides support in Funds/Collective Investment Schemes, Investment Services in Malta, Banking and Financial Institutions in Malta, and Insurance Distributors amongst many other.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.