According to local media reports, Malta has formally passed the Moneyval review. The Committee of Experts against Money Laundering in the Council of Europe voted in favour of a report on Malta. Media reports say that although the report is expected to be published in the summer, its content acknowledges the reforms carried out by the Government led by Prime Minister Robert Abela in favour of the fight against money laundering and financial crime.
Moneyval’s favourable review is not the last stage of the scrutiny process over Malta. The decision on whether Malta is ‘greylisted’ will actually be taken by another body, the Financial Action Task Force (FATF).
Meanwhile, in connection with regard to the Moneyval review, the Chamber of SMEs issued a statement welcoming this positive development and congratulated Prime Minister Robert Abela and Finance Minister Clyde Caruana for this result.