As Malta waits to find out whether it will be grey-listed by the Financial Action Task Force (FATF), the organisation itself has teased people with a dramatic new video about financial crime.
From shots of a hooded man about to fire a gun to clips of heroin needles and people furtively counting cash, the FATF video could pass off as a trailer to a 90s thriller.
However, it’s intended to stress the importance of tackling financial crime, and the message could have serious implications for Malta.
Updates to the FATF’s increased monitoring list, the so-called grey list, assessments of Japan and South Africa, and a report into environmental crime. Delegates from around the world will discuss these and more during FATF Plenary this week. See more ➡️https://t.co/CBMQiyz2BK pic.twitter.com/TE14M2sTXm
— FATF (@FATFNews) June 21, 2021
Delegates representing 205 members of the FATF’s Global Network and observer organisations such as the IMF and the UN are convening in a virtual plenary this week.
In a statement, the FATF said it will discuss measures taken by Japan and South Africa to combat money laundering and terrorist financing, and the progress made by some jurisdictions identified as presenting a risk to the financial system.
This will include Malta, whose money laundering regime failed a Moneyval review in 2019 but passed a subsequent test this year following a raft of reforms.
Finance Minister Clyde Caruana has said that Malta’s main challenge over the next 48 hours is convincing skeptical nations that the country’s reforms were carried out in good faith.
But if this video is anything to go by, it looks like good faith is the last thing on the FATF’s mind…