Malta remains an attraction for prospective investors

VALLETTA (MALTA) (ITALPRESS/MNA) – Maltese Prime Minister Robert Abela declared that Maltàs removal from the Financial Action Task Force grey list confirms “Malta is a reputable and serious jurisdiction and will remain an attraction for prospective investors”.

Malta was voted off the grey list on Wednesday, one year after the country was included in the list as an untrustworthy financial jurisdiction.

Maltese Prime Minister said “a year ago I said Malta is committed to implement the reforms agreed with the FATF effectively and sustainably to bring a cultural change in a country which aimed at reaching higher standards. Today Malta stands as an example to other nations but our efforts will not stop here to fight money laundering, financing of terrorism and organised crime”.

While claiming that Malta should have never been grey-listed, Robert Abela added that his administration was convinced that it needed to implement a number of reforms in “record time”.

Marcus Pleyer, the President of the global anti-money laundering watchdog FATF said that Malta was taken off the list of jurisdictions following constant monitoring after the Maltese authorities completed the action plan which was agreed with FATF. However he warned that “Malta has more to do to strengthen its institutions and implement anti-money laundering laws”. He added “Malta must take advantage of this momentum and continue improving the implementation of its laws especially on proceeds derived from crime”.

In an action plan agreed with the international money laundering watchdog, Malta made a political commitment to focus its financial intelligence capabilities on tax evasion and money laundering and increase transparency on anonymous shell companies.

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Source: medNews