MALTA EARNS A FAILING GRADE FROM THE GROUP OF STATES AGAINST CORRUPTION

Malta has only implemented 2 of the 23 Recommendations laid down in 2019, regarding anti-corruption measures that need to be implemented, according to the NGO Group of States Against Corruption or GRECO[Groupe d'Etats Contre la Corruption].

 The Compliance Report on Malta, from GRECO'S Fifth Evaluation Round, published on May 24, 2022, effectively awards an "F" grade to Malta for its lack of significant progress in the last three years. This is yet another yardstick that the Financial Action Task Force (FATF) looks at in determining whether to remove Malta from its Greylist, and may even push evaluators towards the other direction, the FATF Blacklist. 

No EU country has ever made the Blacklist, and the assignment to that category would swiftly turn Malta into Europe's North Korea, regarding international financial ostracism. It would also restrict Maltese

The complete text of the Compliance Report can be accessed here.