Moneyval experts were “not convinced” that Malta effectively investigates and prosecutes high-level money laundering, bribery, and corruption cases, viewed as one of the island’s main shortcomings.
A draft version of the assessment of Malta’s anti-money laundering regime, seen by The Sunday Times of Malta, paints a dim picture of the country’s ability to fight major financial crime.
“Limited resources, both human and financial, allocated to the investigation and prosecution of money laundering weighs negatively on Malta’s capability to effectively fight it,” the 230-page report reads.
Last month, Times of Malta reported that Malta’s anti-money laundering regime had failed a final review by international experts from the Council of Europe and had been given a year to get its house in order or face potential blacklisting procedures.
Read the original article here: timesofmalta.com
Get headlines, breaking news, and jobs announcements delivered to your inbox. Sign up for our daily newsletter.