FATF issues global data-sharing blueprint for AML partnerships
New FATF report provides a global framework for public-private data sharing. The FIAU says it is already active in this space in Malta.
The Financial Action Task Force has published a global survey of how public and private sectors can share financial intelligence without breaking data protection rules.
The report, titled Information Sharing to Combat Illicit Finance, examines public-private partnerships, private-private arrangements, and cross-border information-sharing models. It covers governance, legal frameworks, and data safeguards.
For Maltese subject persons, the timing is strategic. The FIAU has confirmed it is already running several PPP initiatives, including one focused on human trafficking and modern slavery.
The FATF report acknowledges the growing pressure on the financial system. In an increasingly digitalised environment, the speed and complexity of illicit finance require stronger collaboration and more effective information-sharing arrangements.
The publication offers practical examples from multiple jurisdictions on how PPPs can improve risk understanding, detect suspicious activity, and disrupt criminal networks. But the FATF is clear: each jurisdiction must apply the examples within its own legal, supervisory, and operational context, including data protection and confidentiality requirements.
This last point is critical for Malta. GDPR compliance has been a persistent friction point for local banks, iGaming operators, and financial services firms trying to share suspicious transaction data with authorities.
The report also feeds directly into ongoing EU work. Article 75 of the EU Anti-Money Laundering Regulation will establish a framework for PPPs at the European level. The FATF analysis is relevant not only for AML/CFT effectiveness but also for the need to ensure proper governance, clear parameters for information use, and data protection safeguards.
The FIAU remains a firm believer in the value of public-private partnerships as an important means of strengthening Malta’s AML/CFT framework and enhancing collective efforts to combat financial crime.
Subject persons are encouraged to read the FATF report and assess its relevance to their own compliance frameworks, particularly regarding information-sharing practices and engagement with competent authorities.
The report is available through the FATF website and the FIAU’s third-party publications section.