FIAU imposes €2.6m penalty on BOV: The Financial Intelligence and Analysis Unit (FIAU) has imposed a fine of €2.6 million on it as an administrative penalty for failing to report Beneficial Ownership information for 2,442 corporate customers in the Central Bank Account Register (CBAR) reporting to the FIAU. 1,144 of the 2,442 corporate customers included 492 struck off, in dissolution or inactive corporates, 556 corporate customers requiring a review of the customer due diligence information and documentation held some of which included entities with a corporate structure that included foreign entities and 96 law firms. There is no suggestion that any of the affected accounts were involved in money laundering or financing of terrorism.
Malta gets first tranche of recovery funds: Malta will receive a €41 million money transfer from Brussels today, in the form of a “first deposit” of the EU’s COVID-19 recovery funds. The Times of Malta quotes Government sources and reports that the first tranche of the EU’s Recovery and Resilience Facility will arrive in Maltese government coffers by the close of day. The funds, part of the EU’s €672 billion aid package, are aimed to help mitigate the devastating impact the pandemic has had on Europe’s economy. Malta was originally allocated €242 million, with the figure later increasing to €320 million.
Prison is more secure than ever, Minister says: Home Affairs Minister Byron Camilleri has presented the conclusions of the inquiry into the prison operations, adding that this “confirms” that Corradino Correctional Facility is secure. “The Attorney General made very particular comments on how the prison is run. Stakeholders affirmed that presently there is a order and the facility feels more secure”, he argued. Camilleri also revealed that an independent commissioner for prisons will be empowered to monitor safety of prisoners following the raft of incidents that have occurred in the past months.
Cost-of-living increases to 2.4% in November: In November 2021, the annual rate of inflation as measured by the HICP was 2.4 per cent, up from 1.4% in October 2021. The 12-month moving average rate for November stood at 0.5%. The largest upward impact on annual inflation was measured in the Food and non-alcoholic beverages Index, largely due to higher prices of vegetables.
Morning Briefing
No Omicron in Malta, as Fearne urges booster take up
Health Minister Chris Fearne urged people to over 35 to get the COVID-19 booster jab, while revealing that the Omicron variant has not been detected in Malta yet. The Deputy PM described the booster as being crucial to tackling the spread of COVID-19, especially the more contagious Omicron variant.
“As we speak, we do not have Omicron cases but we have sequencing carried out every day, and in the coming hours we will have the latest information in hand. If not today, or tomorrow, we are bound to have an Omicron case soon. The booster is key here,” he said. (Times of Malta)
Energy Minister says Govt agrees that no funds are given to sustain criminal activities
Energy Minister Miriam Dalli said that the Maltese government and the European Union are in agreement that no funds allotted to any given project are to be funnelled to sustain criminal activities. Dalli downplayed the compensation that Electrogas Malta – in which Yorgen Fenech, the businessman accused of masterminding the assassination of Daphne Caruana Galizia, still has a stake – was set to receive should the project come to fruition. The Minister insisted that the gas pipeline project was independent to other energy projects, allowing for a cleaner energy source. She added that the future hydrogen ready pipeline will be operated by Interconnect Malta, a company which has no connections with other entities involved in the energy sector. (Newsbook/Independent)
Covid-19 Update: A total of 167 new daily cases were reported on Thursday while 99 people recovered. 16 people are being treated in hospital, 3 of whom are in the ITU
