MALTA FACES HIGH MONEY LAUNDERING RISK – ACCORDING TO NATIONAL RISK ASSESSMENT

International Adviser on 6th November reported that the Times of Malta had had sight of the unpublished national risk assessment of Malta from 2017 which found the country to be at high risk of foreign proceeds of crime being transferred into the island, and at a medium-high risk of local crime, including tax evasion, fraud and drug trafficking.  The report also claimed that revenue from the illicit market in Malta reached 1.4% of GDP, while tax evasion was estimated to be 5% of GDP.

https://international-adviser.com/malta-faces-high-money-laundering-risk

https://www.timesofmalta.com/articles/view/20181106/local/malta-at-high-risk-of-being-used-for-money-laundering.693560

Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section

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