The good news of today confirms that Malta is a serious and reputable jurisdiction.
Prime Minister Robert Abela spoke on decision by FATF to remove Malta from grey list.
“We worked indeed hard and tirelessly to address the recommended actions indicated to us by FATF, which had also been agreed upon on a political level in June 2021, and I am pleased that we succeeded in doing so in such a brief span of time.
Reforms to strengthen the effectiveness of our anti-money laundering and counter-terrorism financing framework were implemented in a brief time… whilst deficiencies related to Ultimate Beneficial Ownership and tax related shortcomings were also addressed.
And for this, I have to thank all the relevant local institutions and all the relevant stakeholders involved in this process for their sheer determination, dedication and continued support.
I would also like to thank our international partners for sharing their best practice with us.
As a result, today, Malta stands as an example to other jurisdictions.
We successfully implemented the agreed upon action plan, whilst maintaining strong economic growth and achieving unprecedented levels of employment, also in the gaming and financial services sectors.
But our effort will not stop here.
We will continue to nurture this culture change, deliver on our commitments and sustaining our momentum.
We remain open to engage as necessary, should any issues arise.
And as Prime Minister, I can give my assurance that we will remain fully committed to prevent money laundering, the financing of terrorism and particularly to combat other forms of serious and organised crime.
The announcement of today by the FATF is indeed a testament to our political will, resolve and strong commitment.
Photo:(OPM)
