THE REAL REASON THAT THE ECJ RULED MALTA'S CBI PASSPORT PROGRAMME IS ILLEGAL; IT FACILITATES MONEY LAUNDERING & FINANCIAL CRIME INSIDE THE EU

While an extensive opinion was handed down yesterday by the European Court of Justice, explaining why the Court ruled that Malta's IIM Citizenship By Investment passport scheme was illegal under EU law, let's not lose sight of the fact that CBI/CIP passports have been a favourite method of money launderers, transnational criminals, sanctions evaders, terrorist financiers, spies and intelligence agents,persons engaged in industrial espionage, and various and sundry other criminal types who require access to the Member States of the European Union for their illicit activities. Malta has proven to be the perfect tool for gaining the low-profile EU entry that they desire.

I may agree that any second passport programme that fails to require actual ( not bogus) residence, fluency in the local language, culture, and customs is little more than a "commercial" arrangement, and not likely to benefit the host country in any significant way, but the financial crime threat must be considered the clear and present danger here, especially given Malta's long and sordid history of rampant political corruption, allowing unsuitable applicants to secure Maltese passports with impunity, even if their country of nationality is on the Blacklist when it comes to accepting them.

We are seeing a large number of well-prepared public relations statement, issued by a number of companies and individuals, all with a financial stake in the "investment migration" ( second passport) industry, condemning the ECJ ruling, and hinting than Malta can reform. Ignore them, ladies & gentlemen, for it is doubtful that Malta will ever be able to clean up it IIM scheme sufficiently to meet EU minimum standards. There's a reason its disgraced former Prime Minister, JOSEPH MUSCAT, was named the most corrupt EU official, and why he personally faces justice at home. The loss to the money laundering community, who will no longer be able to slip into Europe, courtesy Malta's IIM, will be substantial, and it is to be welcomed.