Central Bank signs cooperation agreement with Malta Police Force

The Central Bank of Malta (CBM) and the Malta Police Force have signed a Memorandum of Understanding (MoU) that provides a formal basis for cooperation between the two institutions.

The CBM governor, Professor Edward Scicluna - a former finance Minister - and the Commissioner of the Malta Police Force, Angelo Gafà, signed the MOU. which was described as an important tool that formalises and strengthens the existing relationship between the two institutions.

This agreement also builds on years of assistance provided by the Malta Police Force to the CBM in securing its activities and assets.

Furthermore, it sets out new ways for further cooperation in preventing the use of counterfeit money, through both technical and investigative assistance.

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

Professor Scicluna noted that "the agreement signed reflects the determination of the two institutions to continue with their long-standing tradition of mutual assistance through the sharing of personnel, training and technical resources, and allowing them to further this cooperation in preventing counterfeiting, which is highly detrimental to the euro as a tool for making payments."

The Commissioner of the Malta Police Force, Mr Gafà said that "The Malta Police Force is pleased to seal this agreement which is a recognition that financial crime, including serious and organised financial crime, can be effectively dealt with through a multi-stakeholder approach."