The National Coordinating Committee on Combating Money Laundering and Funding of Terrorism (NCC) was established within the Ministry for Finance through Subsidiary Legislation S.L. 373.02, enacted on the 13th April 2018. The NCC is the governing body responsible for the general oversight of Anti-Money Laundering / Combating the Funding of Terrorism (AML/CFT) policy, and therefore in charge of defining, overseeing and coordinating the implementation of such strategy. It is responsible for promoting effective collaboration between regulators and law enforcement agencies, and for monitoring interaction between them.
The objectives of the NCC are:
- Ensure full transparency on Malta’s AML/CFT risks;
- Comprehensive, coordinated and communicated strategy for managing the risks;
- Effective execution of and follow-through on decisions made;
- Effective ongoing cooperation and intelligence sharing among stakeholders.