Malta has submitted the final report to MoneyVal in a bid to avoid being grey-listed by the international anti-money laundering body.
A team of experts will now visit Malta between December and early 2021, for an assessment on whether the Maltese government has done enough to fight corruption and financial crimes on the island 🇲🇹
Malta is already on thin ice with Moneyval after failing it’s first assessment and failure to do so again would result in the island being classified internationally as an untrustworthy jurisdiction.
This could be detrimental to the Maltese economy as it would discourage foreign investors from coming to Malta to set up business.
At the start of 2020, just two countries were on the blacklist – Iran and North Korea. The grey list, on the other hand, includes 18 jurisdictions, from Panama to The Bahamas.