Author: Alex Perici Calascione

Finance Minister Clyde Carauana, speaking about the FATF vote branding Malta as the first European Union member state to be greylisted, was quoted as saying that this is a “sensitive subject” and “the less one comments about it the better”. This is very much in line with the approach often taken by the government.  Somehow there is the belief that we still live in a time where local issues remain local and they are only discovered abroad if someone here actually indignantly speaks about them. True to form, therefore, we have all been invited to stand down, sit back and…

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FATF has voted, making Malta effectively the first European Union member state to be greylisted. The questions which naturally emerge at this point are two: how did we get here and how do we move on? What got us here is not a matter of opinion, it is a state of fact or, rather, of one scandalous and contemptible fact after another. The Moneyval journey Malta embarked on many years ago was a consistently healthy, positive and constructive one. One report after another always indicated where we could improve but always highlighted our strong legal framework; our valid and highly-repu­table…

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