Malta’s anti-money laundering systems passes crucial Moneyval test
Local
Following nationwide concerns of failing a review by money-laundering and financial terrorism watchdog Moneyval and potential grey-listing by the Financial Action Task Force, Malta has passed a review by the European Committee.
Moneyval had investigated whether Malta had taken technical and legal action based on the board’s recommendations since September 2019 and ruled in favour of the country’s performance.
The country had implemented multiple changes to clamp down on money laundering activities, with the Malta Police Force increasing its manpower threefold within the financial crimes unit.
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Photo Source: Europe Human Rights Watchdog