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Robert Abela Confident Malta Will Pass Moneyval Test With Flying Colours

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Prime Minister Robert Abela is confident that Malta will pass the looming Moneyval deadline this October and avoid being placed on the body’s greylist.

“The same way we passed the test of the Venice Commission and the COVID 19 pandemic, we will pass the Moneyval test,” Abela said at a Labour Party general conference earlier today.

“And not only will we pass it, but we will pass it with great success because we know what we’re doing and we’re focused.”

After failing a Moneyval test back in September 2019, Malta was given one year to address its shortcomings in its anti-money laundering regime.

If the country fails to pass Moneyval’s retest this October, it will be placed on the body’s “greylist” which will see the island subjected to enhanced monitoring procedures.

The Malta Employers’ Association has already warned of the consequences facing Malta if it were to fail the test, warning that being greylisted could be as devastating as the COVID-19 pandemic itself.

However, Abela seems more than confident that Malta will pass the test with flying colours and compared the upcoming challenge to the government’s handling of the pandemic, which has even been praised by the World Health Organisation.

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