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Malta Financial Intelligence Unit Defends Its Reputation

by Jason Gorringe, Lowtax.net, London
26 December, 2017

Malta's Financial Intelligence Analysis Unit, tasked with combating money laundering and the funding of terrorism, has rejected local media claims it may have refrained from investigating private banks due to political pressure.

In a recent statement to the press, the Unit said it has always performed its duties and functions in accordance with the law and free from undue influence or pressure. In particular, the Unit said it "has never refrained from carrying out any investigation or analysis when it felt this was called for. This is irrespective of who the subject persons to be investigated were or whether they were private banks or others."

The Unit has also pointed to its internal governance structures, policies, and procedures, which it says mean decisions regarding its analytical and supervisory work are taken collectively by internal committees and sub-committees, and in a transparent and auditable manner.

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