Malta removed from the FATF grey list

On the 15th June 2022, Maltese news sources revealed that following a secret plenary vote, the Financial Action Task Force (“FATF”) voted to remove Malta from its grey list. A formal announcement of the decision is expected to be made this Friday afternoon.

To be removed from the grey list, Malta was required to implement numerous changes to its regime for combatting money laundering and financing of terrorism. Having been placed on the grey list, Malta suffered increased inquiries and scrutiny when dealing with international bodies and service providers.

Four months prior to the removal decision, the FATF had indicated that the Maltese regime had been substantially rehauled, having satisfied most of the reforms requested to be made by the FATF.

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