Moneyval criticizes Malta over AML failures
Money laundering and financial crimes have affected Malta’s online gaming and banking industries

A European watchdog Moneyval, which comprises of members from over 30 countries, has criticized Malta over repeatedly failing to act on anti-money laundering and financial crimes. The financial crimes are affecting Malta’s online gaming and banking industries gravely.

A Southern European island country which tried to boost its economy by encouraging online gaming and gambling along with the cryptocurrency industry has miserably failed to make stringent policies to prevent financial threats.

As per the reports, in order to combat financial crimes, the ministers of Malta are agreed to prepare a one-year plan to implement Moneyval’s 59 recommendations.

Source – Legal Gambling And The Law

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