Clyde caruana

Finance Minister Clyde Caruana delivered an impassioned message on Wednesday evening, stressing that Malta’s inclusion in the Financial Action Task Force (FATF) grey list will not translate into drastic or minor changes overnight.

“What happened today in no way, and it is important to understand this because there are psychological factors at play, change anything drastically from one day to the next. The thinking that from tomorrow, something will happen that will change people’s lives drastically or otherwise, is not the case.”

His remarks were made as part of a joint press conference with Prime Minister Robert Abela after local media broke the news that the FATF has included Malta in its grey list, a group of countries around the world deemed as higher-risk in the fight against money laundering.

Minister Caruana also dedicated time as part of his message to praise the work and cooperation undergone by the private sector.

🎥 LIVE | Il-Prim Ministru Robert Abela u l-Ministru għall-Finanzi u x-Xogħol Clyde Caruana jindirizzaw konferenza tal-aħbarijiet

🎥 LIVE | Il-Prim Ministru Robert Abela u l-Ministru għall-Finanzi u x-Xogħol Clyde Caruana jindirizzaw konferenza tal-aħbarijiet

Posted by MaltaGov on Wednesday, 23 June 2021

“The Government passed several laws in recent months” to comply with recommendations, he said, “but the private sector changed its modus operandi in a relatively short space of time. The private sector knew what was happening as they were experiencing it. It also knows that we must continue strengthening our efforts in the time ahead”.

Malta becomes the first EU nation to be greylisted by the FATF, despite this, Minister Caruana gave assurances that the Government will continue to ensure that the labour market continues to be strengthened and opportunities created, despite the fresh challenges ahead.

Malta’s inflation rate drops to lowest level since 2021 as food prices fall

March 18, 2024
by Robert Fenech

February marked the coming into force of the Government's price stability scheme

Engineers to join architects and lawyers in new service helping citizens affected by construction

March 18, 2024
by Robert Fenech

The Chamber of Engineers will also be helping the committee set up to implement the public inquiry board's recommendations

With less than 100 days until summer, how does Malta compare to other Mediterranean destinations?

March 18, 2024
by Anthea Cachia

Malta compares well with other locations when it comes to flight and accommodation prices