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Employers group ‘breathes sigh of relief’ over positive Moneyval review
MEA welcomes Moneyval’s positive review, says this is important initial step towards ‘uphill process’ of restoring Malta’s reputation
30 April 2021, 1:49pm
Staff Reporter
Staff Reporter
1 min read
The financial services sector has been shackled by the threat of grey-listing as a result of governance failings. Moneyval has now given a positive review of reforms undertaken over the past months
The Malta Employers’ Association has welcomed with “relief” Moneyval’s positive review in the wake of reforms to bolster the fight against money laundering.
MEA said the outcome was the result of extensive reforms to governance structures that were failing on many counts.
“This is an important initial step towards an uphill process of restoring Malta’s reputation in the global financial system,” the association said.
It augured that the Financial Action Task Force, the international umbrella organisation that has the final say, will likewise give a positive review and remove the threat of grey-listing Malta.
