Malta has made huge progress in its effort to get off the Financial Action Taskforce’s greylist as the action plan has been substantially completed.
Delegates representing 206 members of the Global Network and observer organisations, including the International Monetary Fund, the United Nations and the Egmont Group of Financial Intelligence Units, took part in the FATF Plenary on 1-4 March 2022.
In a press statement issued at the end of the plenary, FATF stated that:
“At its February 2022 Plenary, the FATF made the initial determination that Malta has substantially completed its action plan and warrants an on-site visit to verify that the implementation of Malta’s AML/CFT reforms has begun and is being sustained, and that the necessary political commitment remains in place to sustain implementation and improvement in the future.”
The statement acknowledges the reforms implemented by the Maltese government.
The statement acknowledges the reforms implemented by the Maltese government.
FATF will now proceed to the next phase and will therefore conduct an on-site visit at the earliest possible date, and report back to the next plenary.
In a statement, the Maltese Government noted this decision, saying it remains committed to continue working towards higher standards.
I do hope that ALL Maltese people will accept this great news with happiness and not turn it politically. It is time to look ahead
@ Ch Cassar. What is there to be happy about? First of all we should be really angry at the Labour government for getting us grey listed in the first place. We should also be angry at it for brazenly lying and putting the blame on the PN when it is so blatantly obvious that it is the govt. and only, the govt. to blame.
As for this development, it is one small step forward but: According to the FATF there will be a visit to determine whether there is political commitment. Clearly there is very little commitment given that the PM persistently refuses to declare his income of recent years; refused to enact laws proposed by the PN to improve governance and to better combat corruption. And then the cherry on the cake is Abela’s property deals with alleged criminals – deals that stink of money laundering.