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FATF Greylisting: Finance Minister Travels To Germany In Bid To Stop ‘Some Countries’ Making Example Out Of Malta

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Finance Minister Clyde Caruana is currently in Germany for talks aimed at ensuring Malta is not greylisted by the Financial Action Task Force (FATF), ahead of a vote next week that will decide Malta’s fate. 

On Tuesday, the FATF’s International Cooperation Review Group (ICRG) – composed of FATF evaluators – failed to reach a unanimous decision on whether to recommend that Malta be greylisted.

Malta was hoping to be given the all-clear however Lovin Malta is informed that assessors from three countries – namely the USA, UK and Germany – insisted on taking a position against Malta. 

Speaking during an interview on Xtra, which will be broadcast on TVM tonight, Caruana suggested that indications received from certain countries were that they would be pushing for greylisting. Caruana did not name the countries. 

“They want to make an example of Malta. This differs from the majority of countries which have reacted positively to the changes we have carried out,” Caruana was quoted as saying by MaltaToday. 

He reiterated his belief that Malta should not be greylisted, given that it had passed an assessment by Moneyval. 

In a statement reacting to reports that the ICRG meeting had not gone the way Malta wanted it to, Caruana said that as a sovereign nation, Malta would do whatever it needed to do to protect its interests. 

The vote that will decide whether or not Malta is greylisted will take place on 23rd June. 

What do you make of the minister’s statements? Comment below

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