Malta officially removed from FATF greylist

Malta officially removed from FATF greylist

FATF congratulates Malta for the significant progress it has made in increasing the effectiveness of its anti-money laundering system.

As a result of Malta's considerable advancements in this area, Malta was formally taken off a list of untrustworthy financial jurisdictions (‘the greylist’) in just 12 months since it was first placed there.

FATF further stated that Malta’s removal from the greylist was a result of its decision to double down the resources allocated to its business registry, undertaking an extensive risk analysis, and successfully tracking down organisations that conceal their true owners. Malta has managed to address all its deficiencies in this area.

Following the whitelisting announcement, the Government of Malta expressed its satisfaction that the FATF had taken note of Malta’s immense efforts to rectify the situation in the shortest possible timeframe.

Malta’s whitelisting will further strengthen the country’s reputation as a serious business jurisdiction, said Prime Minister Robert Abela.