MEPs publish final Panama Papers report: nine main takeaways on Malta

Ana Gomes and Sven Giegold (seated left and right) at the PANA committee mission in Malta

1. Malta was the only EU member state with a government minister named among the PEPs mentioned in the Panama Papers; but Malta saw no police investigation despite evidence from the Financial Intelligence Analysis Unit of serious risks of money laundering. “This lack of investigation has prevented the possibility of identifying, and if necessary sanctioning, intermediaries in Malta who may not have been compliant with their obligations, including customer due diligence (CDD).”

2. The PANA committee condemned the failure of the Commission to investigate further as regards possible non-compliance by Malta with the AMLD (anti-money laundering directive), despite this being brought to its attention.

READ THE FULL REPORT HERE [PDF]

3. The MEPs said Pilatus

... read more at: http://www.maltatoday.com.mt/news/europe/82035/meps_publish_final_panama_papers_report_nine_main_takeaways

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