The Ministry of Finance marked the International Day of Financial Intelligence Units by using an opening seminar speech to stress the importance of financial intelligence units in protecting the integrity of financial systems and economies from financial crime. In remarks delivered by Permanent Secretary Albertina Fruquia, the ministry framed financial crime as a major threat to sustainable development because illicit proceeds undermine the formal economy, weaken institutions and erode public trust. The speech presented financial intelligence units as increasingly central to the international framework for preventing and combating money laundering, terrorist financing and the proliferation of weapons of mass destruction, particularly as financial flows become more complex, the economy becomes more digital and transnational criminal groups become more sophisticated. It said stronger mechanisms for the prevention, detection and repression of financial crimes are not only a legal or regulatory requirement, but also a strategic imperative for economic sovereignty, financial stability and national security.

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