In June 2021, the jurisdiction of Malta was named as one of the newest additions of the FATF’s Increased Monitoring List, dubbed also as the ‘greylist’. What followed was a grueling year of implementing action plans, with the government, authorities, and subject persons working cohesively and tirelessly with the sole objective of removing Malta’s name from this undesirable category.
Everyone involved was therefore elated and relieved when the culmination and acknowledgment of all these efforts were recognized during June’s 2022 FATF Plenary Meeting in which they praised Malta for the significant progress it made in addressing the strategic AML/CFT deficiencies previously identified by the FATF and as a result, was officially removed from the greylist.
cleversoft would like to congratulate Malta and all subject persons on this successful outcome and we are thrilled that we have empowered and equipped so many with the tools and information to diligently and effectively safeguard the integrity of their business.
Although Malta is therefore no longer subject to the FATF’s increased monitoring process, complacency in this field is not something any individual or entity can afford.
cleversoft’s pledge to our clients is unwavering and is always committed to provide the best solutions and data, especially in light of the current demanding AML/CFT requirements.