On 21 November, Malta Independent carried an article which seeks to explain in more detail the difference between the FATF and Moneyval evaluations, what led to the grey listing, and the focus areas where Malta lacked.  It explains that, in view of the results obtained on effectiveness in its 2019 assessment, Malta was placed under the scrutiny of a FATF working group called the International Cooperation Review Group (ICRG), meaning that the country’s progress would be monitored by both MONEYVAL and the FATF.  The scope of the follow-up conducted by the 2 bodies is different – while MONEYVAL focuses on the progress made by the country on its technical shortcomings, FATF monitors the country’s ability to improve its effectiveness in implementing the laws and procedures.  It is said that the efforts being made to remove Malta from the grey list will be discussed during an in-depth interview with FIAU Deputy Director Alfred Zammit, which will be published on 5 December.


Any modest contributions for my time and ongoing expenses are welcomed!  I have a page where you can do so, and where one-off contributions start as low as $3, at https://www.buymea3coffee.com/KoIvM842y

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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