Malta’s crypto assets plan means greater AML risks, IMF warns
Authorities must rapidly improve AML regime and guarantee FSA’s independence, mission says
Malta’s drive to become a crypto asset hub will increase the chances of its financial system being used for money laundering, an International Monetary Fund mission warned. The IMF mission also said Malta’s financial authorities must make rapid progress with planned anti-money laundering reforms, and that the country’s regulator was underfunded and struggling to cope.
The report is not the first to severely criticise Malta’s financial regulators. Its ruling Labour party has tried to meet
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