Malta has taken a cautious stance in its response to Donald Trump’s announcement of a 20% tariff on EU imports, a move that has sparked outrage across Europe. While leaders like Spain’s Pedro Sánchez condemned it as “19th-century protectionism” and Germany’s Olaf Scholz called it “an attack on global prosperity,” Malta has opted for a more reserved position. When asked for comment, a spokesperson for Prime Minister Robert Abela deferred to the EU, stating that trade negotiations are handled by the European Commission.The government insisted that the issue remains a key topic at the European level to protect the interests of all EU citizens, including the Maltese. (Times of Malta)
Six soldiers found guilty, one dismissed after AFM drug heist
An Armed Forces of Malta soldier has been dismissed and another demoted following an inquiry into last month’s drug heist at the Safi army compound. The inquiry found serious security lapses, including a soldier watching a film instead of monitoring cameras during the theft of over 100kg of cannabis resin. Six people were later arrested and charged. Internal disciplinary action led to 55 charges against six personnel, all found guilty. Penalties included 134 days of forfeited pay, formal reprimands, and official warnings. (The Malta Independent)
Crypto firm fined over a million euro by FIAU
The Financial Intelligence Analysis Unit (FIAU) has fined cryptocurrency exchange OKCoin Europe Ltd €1,054,269 for risk assessment failures. The penalty follows a compliance review in April 2023, which found deficiencies in the company’s business risk assessment (BRA), making it ineffective in identifying money laundering and terrorism financing risks. The FIAU noted that OKCoin Europe has since addressed the issues. The decision, published on the FIAU website, is subject to appeal. Licensed as a virtual asset service provider (VASP), OKCoin Europe facilitates cryptocurrency transactions and other virtual asset-related activities. (Maltatoday)
