Updated – 1510 The Financial Action Task Force (FATF) has highlighted three points which Malta must fulfil in order to move off the grey list of financial jurisdictions. In a press conference on Friday, president Marcus Pleyer explained that even though good progress has been made since a report in 2019 found serious deficiencies in Malta’s jurisdiction, there still remains work which has to be done.
Improvements needed are showing that ownership information for companies based in Malta is accurate, and that authorities crack down decisively when information about company ownership is found to be inaccurate Enhancing the use of financial intelligence by the FIAU to support authorities pursuing criminal tax and related money laundering cases. This includes clarifying the roles and responsibilities of the Revenue Commissioner FIAU. Focusing FIAU analysis on criminal tax offences, to get it to produce intelligence that helps Maltese law enforcement detect and investigate cases in line with Malta’s identified ML risks related to tax evasion.
Former home affairs minister Manuel Mallia is expected to be nominated as Malta’s next high commissioner in the UK. Mallia’s nomination will have to be approved by the parliamentary committee for public appointments. The nomination comes a few weeks before the end of current High Commissioner Joseph Cole’s term.
Covid-19 Restrictions – Restaurants and bars will no longer have to close up at midnight from Monday as the health authorities have given them the green light to stay open until 2am. In a statement on Friday, the health ministry said those whose licence allows them to stay open past midnight can start doing so but must close up by 2am. Restrictions will also be lifted on fitness classes and contact sport for children under-17, allowing both activities to be held under protocols determined by the health authorities. The ministry said that from Monday, visiting hours at Mater Dei Hospital will increase. Visitors will be allowed to visit patients between 11:30am and 1pm, and between 3pm and 8pm.
Civil society movement Repubblika is asking the Constitutional Court to declare the Electrogas contract has breached people’s human rights as they are being overcharged for electricity consumption. Repubblika is requesting the court to order that consumers are refunded, to declare that both the state and Enemalta breached citizens’ human and rescind the deal.
Five people tested positive for COVID, while three recovered, according to health authorities’ data. This means Malta now has 29 active cases.
Malta added to UK green list: Malta has been included in the UK’s green travel list. Following the announcement, Malta’s government said that to protect the health of Maltese residents, and of all those who visit our country, people flying to Malta from the United Kingdom must present a vaccine certificate. This means that only persons with a vaccination certificate recognized by the Superintendent of Public Health will be able to enter Malta from the United Kingdom without the need for quarantine. This decision was taken on the basis of an epidemiological study of the situation of variant cases reported in the United Kingdom.
FATF grey listing due to “insufficient enforcement”: Malta was grey listed by the Financial Action Task Force because of “insufficient enforcement”. Times of Malta reports that sources insisted key international partners were unimpressed by Malta’s steps to effectively crackdown on financial crime and terrorism financing. The official reasons behind the FATF’s decision are expected to be announced today. Meanwhile, the Malta Chamber of SMEs on Friday warned that Maltese businesses did not want to operate within an economy of shady repute and wanted their name cleared immediately.”It is now very important to really understand what Malta has missed out on and address the real problems that have landed Malta in this situation in the first place.
Updated 0830 Newspaper Review
In-Nazzjon says that the police have received a record number of 40 complaints in 24 hours, reporting scam messages which stole a combined €50,000 from personal accounts. Perpetrators are posing as postal or banking services.
The Times reports that the UK government has lifted the requirement for quarantine for travellers returning from Malta. Health authorities said that arrival from Britain must present a vaccination certificate.
The Independent reports that Marco Gaffarena lost an appeal challenging a court decision to revoke a promise of sale of part of a property in Valletta. The original owners decided not to sell when they became aware of a state expropriation deal with the businessman.
L-Orizzont says that several EU members are pushing for tax harmonisation citing a need for balance between the single market and national competence. Malta disagrees with the proposals arguing that it threatens the competitiveness of smaller countries.
The Times speaks to sources close to the FATF plenary who said that the members of the body were not satisfied with Malta’s enforcement of anti-money laundering rules. The outcomes of the meeting are expected to be published today.
L-Orizzont publishes a statement by the General Workers Union in reaction to the FATF vote. The union said that Malta has made important steps in transparency, rule of law, and good governance but there is always room for improvement.
The Independent quotes a statement by the employers’ association describing Malta’s grey-listing by the FATF as a ‘terrible auto-goal’ for the economy. The body blamed the negative result on dishonest politicians and businesses.
In-Nazzjon covers a press conference addressed by PN Leader Bernard Grech who appealed to the government to listen to the experts and stakeholders to chart a way out the FATF grey list. Grech said the moment requires national unity.
Morning Briefing
Malta added to UK green list: Malta has been included in the UK’s green travel list. Following the announcement, Malta’s government said that to protect the health of Maltese residents, and of all those who visit our country, people flying to Malta from the United Kingdom must present a vaccine certificate. This means that only persons with a vaccination certificate recognized by the Superintendent of Public Health will be able to enter Malta from the United Kingdom without the need for quarantine. This decision was taken on the basis of an epidemiological study of the situation of variant cases reported in the United Kingdom.
No to election now – PN: PN leader Bernard Grech has warned against the government calling an early election, saying it will distract from efforts to get Malta off the financial action task force’s grey list. In a press conference, he argued that an early election would mean politicians are more concerned with gaining votes rather than getting Malta off the grey list. “Robert Abela should place the national interest first. Labour calling an early election, like it has done in the past, will not solve the problem,” Grech said in reply to questions from journalists. The PN also said that it ‘reserves the right’ to take all appropriate action against the Governor of the Central Bank, Edward Scicluna, “including asking for his resignation or filing a motion of no confidence in parliament,” recalling that the former Finance Minister is still under investigation.
Covid-19 Update: Five new cases were found today, while 3 people recovered. There are now 29 active cases. 3,127 swab tests were taken yesterday. No deaths were recorded in the last 24 hours.
CDE News
