ARTICLE
17 May 2021

MFSA, Malta Police Force Enhance Collaborative Efforts In The Fight Against Financial Crime

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Finance Malta

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Finance Malta is a non-profit public-private initiative set up to promote Malta as an international financial centre, both within, as well as outside Malta. It brings together, and harnesses, the resources of the industry and government, to ensure Malta maintains a modern and effective legal, regulatory, and fiscal framework in which the financial services sector can continue to grow and prosper. The Board of Governors, together with the founding associations: The Malta Funds Asset Servicing Association, the Malta Bankers Association, the Malta Insurance Association, the Association of Insurance Brokers, the Malta Insurance Managers Association, the Institute of Financial Services Practitioners; its members and staff are all committed to promote Malta as an innovative international.
The Malta Financial Services Authority (MFSA) and the Malta Police Force have signed a Memorandum of Understanding (MoU) that provides a formal basis for cooperation between the two entities.
Malta Finance and Banking

The financial watchdog and Malta's police have signed a Memorandum of Understanding.

The Malta Financial Services Authority (MFSA) and the Malta Police Force have signed a Memorandum of Understanding (MoU) that provides a formal basis for cooperation between the two entities. The MoU aims to strengthen the relationship between the two entities and enhance their collaborative efforts, the MFSA said in a statement.

The agreement which comes into immediate effect, is one of several initiatives that the MFSA is currently working on to establish a cooperation network with national and international stakeholders. This is reflective of "the Authority's resolve that cooperation is key to safeguarding against misuse of financial sectors for criminal purposes".

The MoU was signed by Christopher Buttigieg, Chief Executive Officer ad interim and Chief Officer Supervision of the MFSA, on behalf of the Authority and Angelo Gafà, Police Commissioner, on behalf of the Malta Police Force.

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Christopher Buttigieg, MFSA CEO ad interim and Chief Officer, Supervision

"This MoU is part of our resolve to enhance levels of collaboration with key partners. The agreement we have signed with the Malta Police Force reflects the determination of our institutions to combat financial crime, money laundering and the funding of terrorism," said Dr Buttigieg.

"It also provides a platform to share good practices, knowledge and expertise while allowing us to seek joint training opportunities that will continue to increase our ability to work closer together."

On his part, the Malta Police Force Commissioner, Angelo Gafà said, "I welcome this important initiative which formalises and strengthens the existing relationship between the Malta Police Force and the MFSA. I look forward to continuing to build on our constructive co-operation to fight Financial Crimes and to sustain the achievements made in the interest of our country."

The provisions of the MoU also allow both parties to enter into further arrangements for mutual assistance such as information-sharing and other operational arrangements in specific areas of operation.

Source: https://businessnow.mt/

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