Malta’s Tax Commissioner has blocked the publication of a list of politically exposed persons linked to the Swiss Leaks. 

MP Jason Azzopardi asked both Prime Minister Robert Abela and Finance Minister Clyde Caruana to publish the list. However, Caruana informed Azzopardi that the data was not approved for publication. No reason was given.

The Swiss Leaks scandal, exposed by the International Consortium of Investigative Journalists, revealed how Maltese nationals kept over €600 million n HSBC’s Geneva branch. Among the high-profile local clients were former Nationalist ministers Ninu Zammit and Michael Falzon. 

Zammit and Falzon had hidden around d$3.2 million and €465,000 respectively. A total of €12 million in lost tax revenues was recovered by the Maltese tax authorities thanks to the data leak. 

Former Prime Minister Joseph Muscat had pledged to publish the full list of politically exposed persons – however, it would later emerge that his chief of staff Keith Schembri also held a Swiss bank account.

Malta has cracked down on financial crime over the last year amid Malta’s greylisting by the FATF. Still, despite charges against some political figures, there is still sentiment in the country that authorities are pursuing minor cases rather than taking down the big fish.

What do you think of the decision?