So far the report is still confidential but full documentation is expected to be published in the coming months by MoneyVal
During a plenary meeting in Strasbourg which took place this early morning, the Council of Europe’s anti-money laundering expert committee, which is constantly referred to as Moneyval, green lit the latest report pending approval on Malta. This positive result came after months of uncertainty.
Since failing the initial review in 2019, Malta has done its best to reform the shortcomings flagged by Moneyval according to a draft position on Malta circulated among the Council of Europe Member states.
No details about the assessment report have been disclosed so far. All the details will be published by MoneyVal this summer although Times of Malta understands that the final document looked positively on the island’s efforts to address flaws in its fight against financial crime. Since failing the initial review in 2019, Malta has done its best to reform these shortcomings flagged by Moneyval.
Last October the government submitted its final report to Moneyval experts . The report was aimed to avoid being grey listed as a high-risk country for financial crime. Back in March, SiGMA News reported that Malta was heading towards an ‘all-clear’ from Moneyval.
In January, SiGMA News reported that during a meeting for the Malta Council for Economic and Social Development, the Prime Minister, Robert Abela stated that he is convinced Malta will pass the Moneyval test and satisfy all the requirements.
The Grey List:
There are currently no European countries listed on the grey list. The current list includes Albania, the Bahamas, Barbados, Botswana, Cambodia, Ghana, Iceland, Jamaica, Mauritius, Mongolia, Myanmar, Nicaragua, Pakistan, Panama, Syria, Uganda, Yemen and Zimbabwe.
Malta is seeing several major changes and happenings within the realm of compliance in the gaming industry which are seen to have shaken the industry. Take a look at our latest issue of SiGMA Magazine (issue 13) where WH Partners open up on what this means for the sector and the future of gaming.
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