Sigma Ratings Publishes First-Ever Financial Crime-Related Rating for Bank in Malta

Sigma Ratings Inc.  has  published the first-ever independent financial crime-related rating for Malta-based FIMBank plc. This risk rating is the first of its kind. By means of this independent rating on financial crime vulnerability, FIMBank plc looks to demonstrate and differentiate the strength of its compliance controls and its efforts to uphold global financial transparency standards.

In this exercise, FIMBank plc has rated 7.24 (out of 10), placing it in the top quartile of the SATISFACTORY band with a POSITIVE outlook regarding its general financial crime-related risk. The rating notes that the bank broadly has strong financial crime controls in place and has made considerable progress in strengthening its posture particularly over the last two years. FIMBank is the first bank globally and in Malta to receive a rating of this kind. To obtain more information on FIMBank’s Sigma Ratings report, please contact us directly.

“Our mission is to support global business and banking growth by enhancing transparency and standardizing metrics for good corporate behavior,” said Sigma Ratings Chief Executive Officer Stuart Jones, Jr. “In an increasingly challenging risk environment, our ratings provide the gold standard that helps streamline the financial crime risk assessment process for financial institutions. If a bank pursues a rating, it’s because it wants to demonstrate commitment to openness and the fight against financial crime.”