Malta has officially been removed from the Financial Action Task Force’s (FATF) grey list, and the FATF has encouraged Malta to ‘strongly focus’ on continuing to strengthen its systems and measures to tackle money laundering and terrorist financing.
The FATF is a global anti-money-laundering body. Malta was placed on the list of jurisdictions under increased monitoring – known as the grey list – in June 2021.
Marcus Pleyer formally announced on Friday the decision to remove Malta from the so-called grey list, as he also revealed that Gibralta has been added to it.
In a statement, the FATF said Malta had made “significant progress” and had “strengthened the effectiveness” of its anti-money laundering regime to combat the “strategic deficiencies” the body had highlighted last year.
Explaining the decision to take Malta off the list, Pleyer said the island had doubled the resources of its business registry and conducted a thorough risk assessment.