FATF to visit Malta to confirm country has completed action plan

The Financial Action Task Force will be visiting Malta to confirm its technical analyses that the country has substantially completed its action plan, the government said on Friday.

The action plan is intended to get Malta removed from the FATF’s grey list. 

It said in a statement the FATF plenary concluded that Malta has addressed most of the technical action plan and had taken all the necessary steps to strategically address the recommendations made.

The analyses led the FATF plenary to accept the recommendation for a visit to be made in Malta to confirm the progress.

The FATF said: “At its February 2022 Plenary, the FATF made the initial determination that Malta has substantially completed its action plan and warrants an on-site visit.”

The government said it noted this decision and committed itself to continue working towards higher standards.

The FATF also added the United Arab Emirates to its greylist, two years after it called for "fundamental and major improvements" in the Gulf state.

There was better news for Zimbabwe, which was deemed to have completed its action plan and is now no longer among the counties facing enhanced monitoring.

To get off the grey list, Malta...