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New Anti-Money Laundering Committee To Advise MFA On Football Reforms

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A new anti-money laundering committee will be advising the Malta Football Association on measures that can be implemented to clamp down on financial crime within the game. 

In a statement, the MFA said that its Executive Committee yesterday approved the formation of this consultative committee. 

It said that the Advisory Committee of Anti-Money Laundering would be putting forward draft proposals on measures that can help improve the governance of football clubs in order to meet the challenge posed by fraud and illicit financing. 

The MFA said that the measures would be implemented swiftly and will include more rigorous due diligence of club committee members and administrators. 

There will also be an increase in the clubs’ requirements when it comes to borrowing and sponsorships, which will now include the need for declarations regarding the providence of any funds obtained. 

MFA president Bjorn Vassallo said that strengthening clubs’ governance structures was a key part of the association’s governance reform, as outlined in its recently published strategy. 

A radical change in the MFA hierarchy would also be carried out over the coming months, Vassallo said. This will be followed by similar changes at the club level which will be driven by changes in legislation to better regulate the commercial side of the sport. 

Stressing that the majority of officials were honest and trustworthy, the prospect of criminality infiltrating football was as real as it was in all other sectors, he expressed his satisfaction at the setting up of the committee.

What do you make of this development?

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