[WATCH] Evarist Bartolo on FATF verdict: ‘We do not deserve to be grey-listed’

Foreign Affairs Minister Evarist Bartolo says Malta has carried out the majority of recommendations put forward by the Financial Action Task Force 

Foreign Affairs Evarist Bartolo
Foreign Affairs Evarist Bartolo

The minister for Foreign Affairs Evarist Bartolo has said he feels Malta does not deserve to be grey-listed as it has carried out recommendations as instructed by the Financial Action Task Force (FATF). 

Malta’s anti-money laundering rules and protocols were yesterday reviewed by the Financial Action Task Force after tough weeks of questioning by international assessors. 

The FATF’s International Co-operation Review Group (ICRG) analysed Malta’s anti-money laundering rules after its recent Moneyval assessment. Based upon its report, the FATF will decide whether Malta should be grey-listed

“I am not a prophet, and so I cannot say what will happen, but what I know is that we have done our utmost to not get grey-listed,” the minister said. 

Bartolo said Moneyval has stated the country was among the first to be largely compliant with the FATF recommendations. “We have changed laws and set up structures. We have really done a lot,” he said. 

The minister said Malta has addressed in a “basic and radical way” the measures we needed to introduce on money laundering, due diligence and rule of law. 

“I don’t think we deserve to be grey-listed,” Bartolo said.

A formal position could be announced on 23 June during the plenary meeting of the FATF.

READ ALSO: Malta decision on FATF grey-listing fate expected for 23 June