Money laundering in Malta

Moneyval calls on Malta to step up efforts against money laundering

By Sophie Couard
It seems that Malta has made headlines after a critical Moneyval report to the Council of Europe concerning AML controls.

Malta has made international headlines for all the wrong reasons. This is because the council of Europe (COE) has published a report which has called for the tiny EU member to toughen their investigation and prosecution efforts to combat anti-money laundering. Malta is a particularly important jurisdiction for online casinos. We've got some details next on the problem of money laundering in Malta.

The report found the understanding and analysis of critical issues were in short supply.

Money laundering in Malta report summary

The report from experts was published by the Anti-Money Laundering Measures and the Financing of Terrorism, known as Moneyval. The report concluded that there exists a shortage of understanding or analysis in important areas when it comes to money laundering in Malta. Investigations were hindered by a lack of financial or human resources.

The Committee of Experts on the Evaluation of Measures to Combat Money Laundering and Terrorist Financing (Moneyval)

Malta has been invited to address the Council of Europe in December 2020 for a progress report.

Terrorism financing

On paper, Malta has a solid legal framework against the financing of terrorism but only conducted a small number of investigations which failed to result in any convictions. While progress has been made, there is plenty more to be done to combat terrorism financing risks.

Malta has been invited to report back on the progress made in addressing money laundering in Malta concerns in December 2020.

By Sophie Couard
By Sophie Couard - EDITOR

I am a great fan of gambling, I became a croupier to finance my studies. After my high school diploma in economic and social sciences , I obtained a bachelor's degree in economics and then a master in philosophy with a thesis on player behavior. After working in an online casino customer support, I became a writer on FeedBack Casino.


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