Financial Intelligence Analysis Unit opens call for director

The Financial Intelligence Analysis Unit (FIAU) has officially launched a call for a new Director following the appointment of  Kenneth Farrugia as CEO at the Malta Financial Services Authority (MFSA), in June 2023.

Subsequently, the FIAU’s board of governors appointed the previous deputy director Alfred Zammit as Acting Director of the financial intelligence and anti-money laundering unit.

Should Mr Zammit wish to assume the permanent role of director, he must follow the standard application procedure outlined in the open call.

Mr Zammit started working at the FIAU in 2010 and assisted the director in providing strategic direction to the various sections of the unit, including the Intelligence Analysis Section, the Supervision and Enforcement Section, and the Legal Affairs Section. He has also represented the FIAU in international forums, such as in meetings of the Egmont Group of FIUs, the EU FIU Platform and Moneyval, among others.

In order to fit for the role as director, the FIAU is seeking proper expertise and qualifications. Nonetheless, FIAU highlighted the need for high levels of integrity, honesty and ethical standards and a commitment to upholding the values of the FIAU.

The unit is a government agency responsible for the collection, collation, processing, analysis and dissemination of information with a view to combating money laundering and the funding of terrorism. It falls under the Finance and Employment Ministry, and is an independent body set up to have full operational independence autonomy from the government.

It holds several functions including the receipt, collection, analysis and dissemination of intelligence, supervision and enforcement of Anti-Money Laundering (AML)/CFT compliance by subject persons, maintaining the Centralised Bank Account Register and monitoring compliance with the Use of Cash (Restriction) Regulations. In addition, the FIAU also provides Guidance and Outreach to subject persons and other stakeholders.