Malta was hoping to be given the all-clear by the Financial Action Task Force (FATF) last night but assessors from three countries took a position in favour of grey-listing.
Assessors from the USA, UK and Germany insisted on taking a position against Malta, meaning a plenary vote on 23rd June is now crucial, not just a formality.
“The USA carries huge weight,” an informed source told Lovin Malta.
“The good news is that many countries gave Malta support so it shows they have recognised the work that was done.”
If Malta is grey-listed it would serve as a warning sign to other countries that the island cannot be trusted in the global fight against financial crime.
Despite a substantial effort by Maltese authorities to implement the recommendations of FATF, following the Moneyval report, there are still items which are being considered pending because they have not been implemented to the satisfaction of some assessors.
Do you think Malta will get the all-clear next week?