Bank of Valletta and the Malta Football Association signed a Memorandum of Understanding to improve resilience against financial crime risk through collaborative efforts in information sharing, education, and risk awareness in the sports discipline of football.
The Memorandum of Understanding was officially signed by Kenneth Farrugia, Chief Executive Officer of Bank of Valletta; Bjorn Vassallo, President of the Malta FA; and Dr Maria Azzopardi, General Secretary of the Malta FA, in the presence of Ryan Caruana, Group Chief Anti-Financial Crime Officer and MLRO at BOV, and Dr Herman Mula, Legal, Integrity and Prosecutor of the Malta FA.
The agreement, spanning over a period of three years, is designed to strengthen resilience against financial crime through a series of joint initiatives focused on public education and awareness, to mitigate financial crime risks in sport. These include, amongst others, campaigns highlighting various forms of scams and promoting good sports governance. With this MoU, Bank of Valletta and the Malta Football Association also aim to facilitate a regular and secure exchange of information and typologies related to financial crime risks, strengthen investigative capabilities through shared expertise and training, and improve customer protection mechanisms through collaborative innovation.
Speaking during the signing event at the Malta Football Association, Bank of Valletta CEO Kenneth Farrugia emphasised the importance that such an agreement can have on the wider community. “Today’s agreement underscores our commitment to fostering a governance culture that places AML and KYC principles at its core. Football clubs, like all organisations operating within the financial system, must uphold robust standards of transparency, integrity, and accountability. Strengthening these foundations is essential not only to protect the sport from financial crime risks, but also to safeguard its reputation and long-term sustainability.
Through this partnership with the Malta FA, we are taking a proactive role in supporting clubs and stakeholders to better understand and manage financial crime risks. By encouraging stronger due diligence practices, improving awareness, and promoting responsible governance behaviours, we aim to build a resilient environment where football can thrive free from the influence of illicit activity,” Mr Farrugia said.
Bjorn Vassallo, Malta FA President, noted that the contribution of a partnership like this today is very strategic, with an important purpose of knowledge sharing between both entities. “The outlining of the desirable outcomes in better governance, mainly in the financial crime area and risk awareness, will assist both organisations to maintain a forefront position, working through intelligence to ensure monitoring, analysis and processes are in place, thus creating a strong compliance through educational, innovative and joint initiatives.
We look forward to working more closely with Bank of Valletta to be able to promote aspects which mitigate abuse. Financial safeguarding is our main objective, and the Malta FA will continue to do its utmost in its football field so that regulatory standards are effectively met,” he said.
This Memorandum of Understanding establishes a strategic partnership based on mutual trust and shared responsibility. It is the second such agreement signed by Bank of Valletta in 2026 as part of its ongoing efforts to combat financial crime. Earlier, in January, the Bank entered into a similar agreement with the Malta Police Force, with the aim to increase awareness on financial crime and strengthening the protection for both customers and society at large.