MONEYVAL is a periodic and regular review

An evaluation of Malta’s financial regulations conducted on a regular basis since 2003 has been portrayed by a front page story on The Malta Independent as if it were something out of the ordinary.




The article, entitled “PANA Committee not the only ones [sic] to put Malta’s financial services industry and enforcement under the microscope”, describes in a correct and factual manner, the conclusions of the past evaluations carried out by Committee of Experts on the Evaluation of Anti-Money Laundering Measures and the Financing of Terrorism, known as MONEYVAL. This committee is the Council of Europe’s permanent monitoring body, and has been carrying out such evaluations on a regular basis since 2003.

The article’s headline and opening paragraph are highly misleading, since the nature and mandate of MONEYVAL and the EU Parliament’s PANA committee are totally different.

This kind of hyped-up portrayal of normal and routine processes, together with unnecessary witch-hunts concerning Malta’s financial sector, are creating untold harm to a sector which has always enjoyed cooperation across the political divide.



Tuesday 7th February 2017


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