Gibraltar has achieved a major breakthrough, finally coming off the European Union’s financial “grey list”. This marks a significant moment for the British overseas territory’s efforts to fight money laundering and terrorist financing.
Following the FATF Plenary held between the 21st and 24th February, Gibraltar, Uganda, Barbados and the United Arab Emirates were officially removed from the grey list.
In recent years Malta has made significant strides in improving its AML/CFT framework, resulting in its removal from the Financial Action Task Force (FATF) grey list in June 2022.
Malta was taken off from the greylist on Wednesday during the plenary meeting of the global watchdog Financial Action Task Force (FATF).
After much speculation, 2021 turned out to be a rocky year for Malta’s efforts to bolster its international reputation in the wake of revelations of public and private corruption that have rocked the island in recent times.