Syedur Rahman of financial crime specialists Rahman
Ravelli considers the possible reasons for this.
Malta appears to have shelved plans to make unexplained wealth
orders a part of its legal system.
An attempt by Minister for Justice, Dr Edward Zammit Lewis, to
introduce a law that would make unexplained wealth orders (UWOs) an
option available to the authorities has been put on hold due to a
reported lack of support within government.
UWOs are used to tackle money laundering and corruption. They
provide a means for law enforcement agencies to freeze or recover
assets when there is a reasonable suspicion that those assets have
been gained through criminal activity. When a UWO is issued, the
respondent has to explain how they obtained the asset in question.
A failure to do so can see the asset classed as recoverable
property, which will lead to efforts to have it taken from the
respondent through civil recovery procedures. Read more about Unexplained Wealth
