Malta's Banking Sector Unites To Tackle Fraud

As digital scams grow more sophisticated across Europe, Malta’s banking sector is taking a proactive stand. The Malta Bankers' Association (MBA), in collaboration with the Central Bank of Malta (CMB), hosted "Ħu Ħsieb Flusek 2026", which translates as "Take Care of Your Money", on 20 March, as part of European Money Week 2026.

The event brought together experts from credit institutions, regulators, law enforcement, and consumer protection organisations to discuss emerging threats in the digital financial landscape and the practical steps individuals can take to protect themselves.

Presentations covered a broad range of topics central to online banking literacy and cybersecurity awareness, including EU regulations on fraudulent payments, common types of online scams, the Digital Services Act, secure customer authentication for online purchases, and practical advice on recognising and avoiding fraud. 

The event reflects a wider commitment from Malta's banking sector to go beyond products and services and invest in the financial wellbeing of consumers. Previous editions have placed particular emphasis on the needs of those who struggle with the fast-evolving technological landscape in banking, equipping participants with essential tools to safeguard their finances. MBA Chair and Bank of Valletta Chief Executive, Kenneth Farrugia has previously underscored the critical role of personal finance education in today's rapidly changing economic environment, urging consumers to embrace digital financial services with both confidence and caution.

The initiative forms part of ongoing efforts by the Maltese banking sector and national institutions to promote financial literacy and encourage safe financial behaviour in an increasingly digital environment. This is a mission well-aligned with OECD financial education principles and Malta's broader push toward inclusive finance and reducing financial vulnerability among consumers. With fraud and scams continuing to evolve, informed consumers remain the first and most effective line of defence.