Malta has ended its year-long purgatory as a ‘greylist’ financial jurisdiction of the Financial Action Task Force (FATF) the global AML and anti-terrorist financing watchdog of the G7. The Times of Malta outlined that the FATF had made the decision to remove Malta from its list of countries under ‘increased monitoring’ and classified as financially untrustworthy. According to the Times, …
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The Financial Action Task Force (FATF) will visit Malta this Friday, to clarify whether the island’s financial authorities have completed the assigned action plan on AML policies. Malta had previously been placed on a greylist of financially risky jurisdictions by the FATF – the G7’s AML and anti-terrorist financing investigative unit – after the task force identified a number of …
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The government of Malta has published its action plan to drastically improve AML safeguards and financial compliance duties that have plagued the country’s status as a financial services hub. The action-plan has been required by the Financial Action Task Force (FATF) of the G7, which this summer placed Malta on its ‘grey-list’ of untrustworthy financial jurisdictions. An FATF evaluation of …
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Malta has been placed on a greylist of the Financial Action Task Force (FATF) – the global AML and anti terrorist financing unit of the G7. The EU member state has previously faced international criticism regarding issues such as the Panama Papers scandal, which saw Maltese government figures implicated in establishing offshore companies encountered little legal action, as well as …
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The Malta Gaming Authority (MGA) has promoted lawyer Ryan Pace to the position of Chairman of the Maltese gambling regulatory authority. Pace has extensive experience of legal affairs, having served in the law firm of Maltese Prime Minister Robert Abela, Abela Advocates, since obtaining his warrant in 2018. He holds a degree in law from the University of Malta, having …
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Malta’s government will begin an executive search for a new leader of the Malta Gaming Authority (MGA), as incumbent Heathcliff Farrugia confirmed that he would not be renewing his CEO tenure. An MGA executive since 2014, Farrugia was appointed Chief Executive of Malta gambling’s regulatory and licensing authority in 2018 replacing long-term incumbent Joseph Cuschieri. Farrugia confirmed to local news …
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The Malta Labour Party has sanctioned wholesale upgrades to its economic rescue package to support vital industries disrupted by the ongoing global Covid-19 crisis. Yesterday, Prime Minister Robert Abela unveiled a raft of new economic measures to protect Malta’s business community and workforce. Malta’s Treasury has pledged to commit €61 million per month to support the employer payroll for its …
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Malta’s business community and trade unions have urged the government to rethink terms and conditions attached to its €1.8 billion COVID-19 ‘rescue package’. Last week, Malta’s new Prime Minister Robert Abela presented the Labour Party’s COVID-19 economic pledge, focusing on maintaining liquidity of Malta businesses. The Malta Treasury’s headline policy saw the government commit to a €1.6 billion liquidity fund which …
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