Author: Alfred Sant

The FATF decision to greylist Malta as a financial centre triggered all the predictable reactions – political, economic, legal and financial. The opposition blamed post-2013 governance under the Joseph Muscat administration for having destroyed Malta’s reputation. The government called the FATF decision “unjustified” since it had implemented 55 out of 58 requirements laid out in the Council of Europe’s Moneyval assessment of Malta’s legislative, regulatory and enforcement systems covering financial services. Business and professional organisations went partway with the view that post-2013 happenings account for the current situation. We were told that Maltese businesses do not “deserve” to be burdened…

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