MFSA, Police Force sign MoU for further cooperation on financial crime

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 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 MFSA said.

The MoU was signed by Dr 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.

“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 Christopher Buttigieg, Chief Officer Supervision and CEO ad interim of the MFSA. “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.