MALTA'S PRIME MINISTER ENDS PUBLIC FINANCIAL DISCLOSURE FOR HIS CABINET AND THEIR SPOUSES

Witness 2 by ALEX CEPPI

The Prime Minister of the Republic of Malta, ROBERT ABELA, has unilaterally terminated the traditional annual individual financial asset declaration reporting, of Ministers and their wives, in the Maltese Cabinet, which were previously submitted to the Speaker of the country's Parliament, and therefore publicly accessible.

The Standards Commissioner, JOSEPH AZZOPARDI, had inquired of the Prime Minister, regarding the failure of the Cabinet to submit Declarations for 2024 and 2025 in January, and was subsequently informed that a single statement, to the effect that all Members of Parliament were in compliance, would be submitted. In essence, this means that there is no public reporting by sitting Cabinet Ministers. It also results in a complete lack of disclosure, by the spouses of the Ministers, of their income, financial investments and bank accounts. Given Malta's reputation amongst the Members of the European Union as its most corrupt government (the prior PM, JOSEPH MUSCAT, actually was named the most corrupt EU leader), compliance officers should govern themselves accordingly, regarding Source of Funds and Source of Wealth of Maltese Ministers, and their immediate families, all of whom should be regarded as Politically Exposed Persons (PEPs) in any risk-based compliance program.