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Malta’s successful removal from the FTAF grey list underlined the “delicate balance between stringent financial scrutiny and maintaining an attractive business environment”, according to Luis Perez, Chief AML Officer at Lottofy, the brand name of Clobet Limited.
Speaking to Payment Expert, he emphasised that the strategic importance of the region to the European and global gaming sector has truly been highlighted amidst Malta taking the decisive steps to depart the FTAF grey list.
The decision of the FATF’s to add Malta to a rogue list of nations on the grey list in 2021 prompted immediate and significant action from the region as PM Robert Abela and Finance Secretary Alfred Camilleri drafted an ‘action plan’ to remove Malta from the greylist by 2023, an ambition they succeeded in achieving.
Perez added: “Personally, I think it marked a before and after on a number of issues. The greylisting highlighted serious deficiencies in Malta’s anti-money laundering measures, leading to inc..
