The European Commission is not overtly concerned with Malta’s greylisting by the FATF but plans to introduce stricter anti-money laundering rules which all Member States would have to enforce. While the commission said that the FATF greylisting does not impinge on the EU’s reputation, sources said...
Dr Wayne Pisani and Dr Stephen Attard from the Institute of Financial Services Practitioners speak with Lovin Malta to discuss the road ahead following FATF's decision to put Malta on the grey-list. https://www.facebook.com/LovinMalta/videos/517649082610431...
The substantial progress made by Malta over the past years to address shortcomings in its anti-money laundering regime has been recognised by the Financial Action Task Force (FATF) during its June 2021 plenary meeting. It is regrettable that, despite the significant progress reported by MONEYVAL, the...
In 2019, Moneyval’s assessment of our financial regulatory framework painted a picture of a country which had a passable foundation to combat financial crime but which came up short in many important pillars in the systems in place. These areas were lacking for many years, under...
Malta has made substantial progress over the past years to address concerns about the effectiveness of its anti-money laundering regime, as demonstrated by the MONEYVAL follow-up report issued on 27 May 2021. Malta has now been found to be either largely compliant or fully compliant...
In pursuit of a common goal of safeguarding the Maltese financial sector, gaming sector, and other sectors and professions from being misused for criminal purposes, the FIAU would like to bring to the attention of all subject persons a notification which has just been issued...
EU finance ministers on Thursday again dampened expectations on completing major banking reforms in Europe, with big divisions between Germany and Italy on how to move forward. "We must never lose hope. I don't hide from you that it's a difficult negotiation," French Finance Minister Bruno...
Finance Minister Clyde Caruana is currently in Germany for talks aimed at ensuring Malta is not greylisted by the Financial Action Task Force (FATF), ahead of a vote next week that will decide Malta’s fate. On Tuesday, the FATF’s International Cooperation Review Group (ICRG) – composed...
The Malta Financial Services Authority (MFSA) has significantly increased its intervention on the financial services industry. According to the regulator’s annual report, it carried out 52 enforcement actions in the 12-month period, resulting in a total of €975,462 in fines. This is a large rise compared to...
Despite the unfavourable circumstances brought by the Covid-19 pandemic, the financial services sector last year saw an increase of 5.5% in real Gross Value-Added rate, which grew to €1.028 billion in 2020.An overview of the financial sector in 2020 was given in the Malta Financial...