Preventing money laundering – Times of Malta

Most western governments and international regulators are increasingly focusing on the need to control money laundering practices like tax evasion, financing of terrorism, financial gains from organised crime as well as corruption by people who hold some sort of political or economic power. The political will to prevent money laundering has become a hallmark of the governance benchmarks of any country that expects to enjoy the trust of its own people and of the international community.

The European Commission set high standards of anti-money-laundering regulations in the Fourth Anti-Money Laundering Directive that member states were expected to enshrine in their legislation and implement by the end of this June. Malta was among a number of EU countries that have so far failed to implement the provisions of this directive. European Justice Commissioner Vera Jourova confirmed that Brussels is monitoring Malta as a result of its failure to meet the directive deadline.

The

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