Boardroom Brief | Ruth Aisthorpe Gauci on Financial Intelligence, Cooperation and the Human Side of Leadership

As Deputy Director for Intelligence Analysis and Cash Restriction at Malta's Financial Intelligence Analysis Unit (FIAU), Ruth Aisthorpe Gauci oversees the agency’s analytical function and its cooperation with domestic authorities and foreign counterparts in combating money laundering and the funding of terrorism. 

In this edition of The Boardroom Brief, Ruth explains how intelligence is shared between the FIAU, local law enforcement and overseas Financial Intelligence Units (FIUs), the growing role of Artificial Intelligence in strengthening analytical work, and why people matter as much as outcomes when measuring impact.

Q1. You joined the FIAU in 2015 as an intelligence analyst and have worked your way up to Deputy Director. What has changed about the FIAU’s intelligence function over that decade?

Over the past decade, the FIAU’s intelligence function has undergone a significant transformation, both in terms of its scale and its strategic importance within the broader AML/CFT framework.

When I joined in 2015, the focus was largely on the core mandate of receiving, analysing and disseminating suspicious transaction reports, with a comparatively smaller team and more manual processes. While the fundamentals of financial intelligence remain the same, the context in which we operate today has changed considerably.

One of the most notable developments has been the increased sophistication of our analytical capabilities with the development of a more data-driven and risk-based model. This model, which is supported by improved systems, bespoke analytical tools and methodologies, has in turn allowed us to handle greater volumes of information and more complex cases.

The establishment of new frameworks and bodies particularly at EU level, has also created a clear shift in expectations, with greater emphasis placed on cooperation and the strategic use of intelligence. The FIAU has had to adapt by strengthening its engagement with domestic and foreign counterparts, aligning its processes with evolving standards and the emerging EU “Single Rulebook”, and by being an active contributor to the global fight against money laundering and terrorist financing.

Another important change is how intelligence is used. Historically, dissemination to law enforcement was the primary output. Today, intelligence plays a much broader role in supporting regulatory, supervisory and policy outcomes. In parallel, the function has become much more integrated internally. The FIAU is somewhat unique in that it brings together intelligence, cash restriction, supervision and enforcement under one roof, which has led to a more coordinated and effective response to financial crime.

In essence, the intelligence function has evolved from a primarily reactive, case-driven activity into a more proactive, strategic and integrated function. One that is central to safeguarding financial integrity in an increasingly complex and interconnected environment.

Q2. Your role requires cooperating with both domestic authorities and foreign counterparts to combat money laundering and the funding of terrorism. In practice, how does intelligence flow between the FIAU, local law enforcement, and overseas FIUs?

It starts with information we receive which is mainly suspicious transaction or activity reports from subject persons, which are analysed to identify patterns or potential criminal activity. That analysis is then turned into intelligence and shared with law enforcement as well as other national and international stakeholders to support their respective functions. In doing so the FIAU reaches out to its national and international counterparts to gather information which would complement the analysis.

It is important to note though that cooperation is not a one-way process. On a national level the FIAU handles a significant number of requests for information per year from law enforcement as well as other authorities. On the international side, cooperation is constant. Through secure channels, we exchange intelligence with foreign FIUs, on a daily basis either in response to requests or proactively, in cases where the FIAU is in receipt of information that is deemed to be of relevance to a foreign counterpart. In fact, thousands of these exchanges take place every year, reflecting how global, financial crime has become. We have recently launched our annual report and the key details of our work may be seen there.

Overall, intelligence sharing should be seen as more of a network as opposed to a linear process, with information moving back and forth between the FIAU, domestic authorities, and international partners to help detect and disrupt financial crime.

Q3. How is the FIAU harnessing AI to strengthen its analytical function, and what future opportunities do you see for AI tools in detecting money laundering?

The FIAU is increasingly looking at AI as a way to enhance, not replace, its analytical work.

At present, our approach is focused on building the right foundations. We are exploring how AI can support areas like transaction analysis, anomaly detection, and the prioritisation of suspicious reports.

We are also mindful that, in our field, the use of AI must be secure, easily explainable and compliant with strict data protection requirements. In view of this, a lot of emphasis is being placed on developing solutions that operate within controlled environments and align with legal and ethical standards.

Looking ahead, the real opportunity is to become more proactive by spotting risks and evolving trends earlier. This is an area AI can definitely support by helping us pick up on patterns sooner, uncover more complex cross‑border activity, and give analysts more time to focus on the work that really requires human judgement. There is also clear scope for more automation in areas like report prioritisation and risk scoring.

Q4. Financial intelligence is a field where success can be hard to measure. What would you point to as the clearest indicator that the FIAU’s intelligence work is having an impact?

Measuring success in financial intelligence is inherently complex, as the most meaningful outcomes are often indirect, preventative, or realised over time rather than immediately visible. That said, one of the clearest indicators of impact is the extent to which intelligence translates into actionable outcomes, whether through supporting law enforcement investigations, informing supervisory interventions, or strengthening risk awareness across the system.

At the FIAU, our role is to transform financial data into intelligence that can be acted upon. This means that impact is best evidenced not simply by volume, such as the number of suspicious transaction reports received, but by the quality, relevance, and usability of the intelligence we produce and disseminate to both national and international counterparts. Recent internal efforts have focused precisely on this shift, moving towards assessing the analytical quality, timeliness, and risk relevance of reporting and outputs rather than relying on purely quantitative measures.  

Ultimately, however, impact in this field is not solely about systems and metrics, it is also about people. Strong leadership plays a critical role in ensuring that those working behind the scenes feel valued as individuals, not merely numbers. Financial intelligence work is demanding, often complex, and sometimes intangible in its results. Creating an environment where analysts feel recognised, supported, and motivated directly enhances the quality of the intelligence they produce. In turn, this strengthens the overall effectiveness of the organisation.

In that sense, the clearest indicator of impact is a combination of both external outcomes and internal strength: intelligence that leads to real-world disruption of financial crime, underpinned by a committed and valued team capable of delivering it.

Q5. You’ve said previously that good leadership means ensuring people feel valued “as individuals, not merely numbers” – how do you achieve this with your own team?

For me, achieving this requires a multi-faceted approach. Primarily one must recognise that no two individuals are the same and each person brings a different set of strengths, motivations, and circumstances to the table. Effective leadership requires the ability to adapt accordingly to these dynamics.\

On a practical level, this means prioritising regular and meaningful engagement. Structured one-to-one discussions are essential, not just to monitor progress, but to create space for open, honest conversations about development, challenges, and aspirations. Equally important is recognising contribution in a genuine and timely manner. When a lot of work takes place behind the scenes it is very easy to oversee or take for granted the value of one’s efforts. In my experience simple actions such as recognising good work or even a sincere “thank you” can make a significant difference to how valued people feel within a team.

Another area I place strong emphasis on is development and progression especially through having honest conversations about growth opportunities and ensuring that a person’s growth and career aspirations are supported through the right training and guidance.

Finally, fostering a culture of respect, trust, and transparency is fundamental. People need to feel that they can speak openly, challenge ideas constructively, and contribute meaningfully to the team’s objectives. As a leader, this also means leading by example, being approachable, acknowledging mistakes, and demonstrating the behaviours you expect from others.

Ultimately, ensuring that people feel valued is not about a single initiative, but about consistency in how you engage, communicate, and lead on a daily basis. When individuals feel recognised and supported, it not only strengthens morale, but also directly enhances the quality and impact of the work they deliver.