The latest FATF choice may have a significant effect on Malta’s financial system

The latest FATF choice may have a significant effect on Malta’s financial system

Regulation

Analysing FATF’s new final decision to increase Malta to its ‘grey list’ for alleged AML violations, Marius Galdikas, CEO at ConnectPay, shares his views on the affect this could have on the country’s financial system, highlighting two possible unwanted outcomes

17 August 2021

Recently, FATF (Economical Motion Task Drive) additional Malta to the record of Jurisdictions Below Increased Checking for violating AML guidelines, earning it the very first European country in new history to be greylisted. Given that Malta passed MONEYVAL’s assessment before this year, FATF’s final decision caught everyone by shock. Gambling and on the internet gaming companies are significant contributors to…