SECTOR PROFILE: Financial Services

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Kenneth Farrugia
Director of the Financial Intelligence Analysis Unit

New and improved: The FIAU adopts hard-line AML and CFT strategy

Malta’s AML reputation reached a low ebb following the European Banking Authority’s (EBA) call for an overhaul of the Financial Intelligence Analysis Unit (FIAU)’s AML/CFT supervisory processes. In under a year, the FIAU has worked with the EBA to implement all their recommendations, which has led to a complete root-and-branch reform of the agency. MaltaProfile spoke to FIAU Director Kenneth Farrugia and his deputy Alfred Zammit.

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