Malta holds its breath as FATF conducts site visit to assess progress in addressing shortcomings

Assessors from the Financial Action Task Force (FATF) are currently in Malta to confirm whether the country has made sufficient progress on the factors identified back in June 2021, when it was placed on the grey list.

Sources within Government have confirmed with BusinessNow.mt that the panel of experts arrived in Malta this week and will be meeting a team of Maltese officials to decide whether enough has been done to take the country off the grey list.

The visit is expected to last three days.

If they like what they see, Malta could be taken off the grey list in June, when the FATF plenary holds its next meeting.

Ever since Malta’s inclusion in the list of jurisdictions subject to increased monitoring, the Government has been doing its utmost to address the shortcoming flagged by the international body.

Just last month, the FATF announced that initial indications showed Malta had substantially completed its action plan. Their onsite visit this week is meant to confirm those indications.