Few can deny that Malta is suffering a bad press from the perception that it tolerates money laundering and is less than fully committed to eradicating tax evasion, corruption, financing of criminal activities, fraud and bribery. Perceptions could damage a country’s reputation as much as evidence-based real stories. Yesterday’s reports on 17 Black certainly don’t help matters.
The government commissioned an assessment of the risks posed by money laundering activities in Malta last year. The main conclusion of this investigation, which has so far not been made public, is that Malta is at high risk of being used for money laundering and at a “medium-high” risk of terrorist financing.
These conclusions come as no surprise to those who have their ears to the ground and follow what is going on in various sectors of the local economy. Occasionally, the foreign media remove the lid from the boiling pot of certain economic operators