Ethics and governance in the European Financial centers

FIU.NET is a decentralised computer network designed to connect (EU) Financial Intelligence Units (FIUs) using modern technology and computers to (bilaterally) share financial intelligence information. FIU.NET encourages co-operation, and enables FIUs to exchange financial intelligence quickly, securely, and effectively. The main purpose of this increased co-operation is to enhance the fight against organised crime and the misuse of the financial system for the purpose of money laundering and terrorism financing.

Currently the body is paralysed as it is waiting for clarity about the future funding by the European Commission.

Know more

Since the begining of the year, several cases of money laundering were in the media in Malta and the justice is doing its job.

See recent articles from The Malta Independant:

Another Panamanian national was charged yesterday with money laundering involving a sum of about Lm10,000. (31/03/07)

Court: First case of money laundering in the Criminal Court: Woman jailed for six years (30/03/07)

Court: Foreigner charged with money laundering (29/03/07)

Four face £1.4m in money-laundering charges (20/01/07)

Court: Criminal Court imposes stiffer bail conditions (05/01/07)

For the first time, an unhappy candidate for a licence of banker that did not accept the decision of the CSSF that contested his professional standing went to the administrative jurisdiction and won (Judgement dated 26 March).

The decision of the tribunal may be the consequence of a lack of transparency of the CSSF in its criteria to assess the professional standing and therefore the banker was able to demonstrate that the decision was not fair.

Source Land, dated 30 March 2007