The Central Bank of Malta and the Financial Intelligence Analysis Unit of that island are rolling out a ‘National Project for the Certification of Professional Cash Handlers’, with the support of the Malta Bankers’ Association.

Professional cash handlers, which include both cashiers and back office staff, are involved in the acceptance and recirculation of banknotes.  They are therefore the first line of defence in the island-republic's fight against money-laundering.

The training programme is being rolled out in three consecutive phases.  The first phase, which will be concluded before the first half of 2015, involves professional cash handlers working at the Central Bank of Malta and the credit institutions that allow cash deposits and withdrawals at their branch offices.  The second phase will extend the training to professional cash handlers working within financial institutions, while the final phase will be further extended to incorporate the retail (including the high-net-worth) sector that accept cash payments for goods and services.

Training and certification is being carried out through a purposefully developed e-learning package, which consists of the following two modules.
• Module 1 – ‘Know your Banknotes’, dealing with how cash handlers can check banknotes for both authenticity and fitness;
• Module 2 – ‘Prevention of Money Laundering and Funding of Terrorism’, dealing with the basic preventative measures that should be put in place, as well as the recognition and handling of transactions by persons who might be engaged in money laundering or the funding of terrorism.

Given the rapidly changing technologies in the field of cash handling and management, certification will be valid for a period of two years, after which cash-handlers will have to go through and be examined on the updated educational material. This is in accordance with Article 16 Prevention of Money Laundering Act (Chapter 373 of the laws of Malta).