Log in or register
Share on LinkedInShare on LinkedIn

ARTICLE · 20 MAY 2021

Malta Passes The MoneyVal Test

Dixcart Group Limited
Explore more from Dixcart Group Limited

On Thursday 29th April 2021, the Council of Europe's Anti-Money Laundering committee voted in favour of a final report on Malta's AML and terrorism- financing safeguards.

GlobalGovernment, Public Sector
Jonathan Vassallo
Jonathan Vassallo

On Thursday 29th April 2021, the Council of Europe's Anti-Money Laundering (AML) committee (MONEYVAL) voted in favour of a final report on Malta's AML and terrorism- financing safeguards.

MONEYVAL, is a permanent monitoring body of the Council of Europe, entrusted with the task of assessing compliance with the principal international standards to counter money laundering and the financing of terrorism and the effectiveness of implementation measures. It is also tasked with making recommendations to national authorities in respect of necessary improvements to their systems.

Background

Two years ago, Malta failed an exhaustive test of its anti-money laundering rules and policing and has since been at risk of being put on the 'grey list'. There are currently 19 countries on the grey list. Being put on the grey list comes with a strict reform procedure and 'hand-holding' by global authorities. The grey list does not imply any economic sanctions but serves as a

We operate a free-to-view policy, asking only that you register in order to read all of our content. Please login or register to view the rest of this article.

Register for freeORLog in

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.

View source

Related Articles

Legal Intelligence Newsletters: sign up for the latest legal and regulatory news on your chosen topics

Read more about

See more popular content from

Article

New Pembroke Reverse Osmosis Plant: €10.2 Million Tender Launched By Malta Water Services Corporation

The Water Services Corporation has issued a major tender for the design, construction and commissioning of a new reverse osmosis desalination plant in Pembroke, Malta, with a nominal capacity of 11,200 m³ per day. The procurement follows EU Directive 2014/25/EU procedures and requires the existing plant to remain operational throughout the project's 100-week completion period. Economic operators must navigate extensive technical requirements covering reverse-osmosis systems, electrical infrastructure,
MaltaGovernment, Public Sector
WH Partners
WH Partners
Article

The EU’s Proposed Public Procurement Act: What Operators Need to Know

The European Union has proposed a comprehensive Public Procurement Act that would consolidate over fifty scattered provisions into a single Regulation, fundamentally transforming how public contracts are awarded across Member States. This reform introduces flexible procurement procedures, digital marketplace integration, and a mandatory emphasis on quality over price, while implementing new security requirements and reducing barriers for SMEs. With public procurement representing 15% of EU GDP, these change
MaltaGovernment, Public Sector
WH Partners
WH Partners
Article

Revision Of Malta’s FDI Rules: Key Takeaways

Malta's Parliament is considering significant amendments to its foreign direct investment screening framework through Bill No 172. The proposed changes aim to clarify notification requirements, define portfolio investment exclusions, and restructure the institutional framework governing the National Foreign Direct Investment Screening Office, bringing Malta's regime into closer alignment with EU regulations.
MaltaGovernment, Public Sector
Ganado Advocates
Ganado Advocates
Article

The Commission’s EU Public Procurement Act Proposal

The European Commission has proposed a comprehensive overhaul of EU public procurement rules through the EU Public Procurement Act, consolidating three existing directives into a single framework. This reform introduces the principle of "best quality for money," strengthens strategic procurement requirements including green and social considerations, and establishes new digital infrastructure for cross-border procurement data sharing.
European UnionGovernment, Public Sector
Camilleri Preziosi
Camilleri Preziosi
Article

Redevelopment Of Malta Film Studios: €744 Million Concession Launched

The concession, issued under reference MFC/1/2026, will be awarded on a build, finance, operate and transfer (“BFOT”) basis. The successful tenderer will be responsible for financing and developing new film-production facilities on a site measuring approximately 92,400 square metres, operating the studios throughout the concession period and transferring the facilities back to the contracting authority upon its expiry.
MaltaGovernment, Public Sector
WH Partners
WH Partners