In November 2021, the Financial Intelligence Analysis Unit
(''FIAU'') issued a factsheet on the typologies and
red flags pertaining to tax-related money laundering.
Undoubtedly, tax evasion is a crime, and
such undeclared proceeds are thus considered as proceeds of crime.
Any further use of the said proceeds or any efforts to legitimise
such proceeds would constitute money laundering. Under the
Prevention of the Money Laundering Act (Chapter 373 of the Laws of
Malta), money laundering is defined as:
the conversion or transfer of property knowing or suspecting
that such property is derived directly or indirectly from, or the
proceeds of, criminal activity or from an act or acts of
participation in criminal activity, for the purpose of or purposes
of concealing or disguising the origin of the property or of
assisting any person or persons involved or concerned in criminal
activity.
