There was a hefty 53 per cent increase in suspicious transaction reports – that is reports on transactions suspected to be related to money-laundering or the funding of terrorism – during 2005, the Financial Intelligence Analysis Unit reported yesterday.

The FIAU report, presented to the Prime Minister, was tabled yesterday in the House of Representatives.

The 75 STRs filed in 2005 translated into 62 cases. By contrast, the 46 STRs received in 2004 translated into 43 cases while the 76 reports received in 2003 translated into 58 cases.

During 2005, the FIAU referred 28 reports to the police for further investigation, while a further 41 STRs resulted in inconclusive information. A further 79 cases were still being analysed by the unit at the end of the year.

The main source of STRs filed with the FIAU during 2005 remains credit institutions – 39 of the 75 STRs filed in 2005 were disclosed by seven credit institutions.

VAT offences

A total of 294 people were arraigned in court last year and charged with having neglected to issue a VAT receipt for products sold or services rendered, while 1,392 were charged with having neglected to file their reports in the established timeframes.

Prime Minister Lawrence Gonzi was replying to Labour MP Adrian Vassallo.

MCC inquiry

The magisterial inquiry into the death of a young girl on New Year’s Eve outside the Mediterranean Conference Centre was sent to the Attorney General for the first time on 29 March, sent back to the inquiring magistrate on 4 May and returned by the magistrate on 8 May, Justice Minister Tonio Borg told Dr Vassallo.

57,000 below the poverty line

According to the Household Budgetary Survey that was carried out in 2000, a total of 57,390 people were considered to be below the poverty line, which is established at 60 per cent of the average income of the Maltese, Prime Minister Lawrence Gonzi told Labour MP Carmelo Abela.