Finance Minister Edward Scicluna today said the government is stepping up its efforts to combat money laundering through various amendments put forward in Parliament through the Money Laundering Bill.
“In order for Malta to maintain its reputation and hence its competitiveness in the financial and economic sectors it has to update its laws and regulations in order to keep afar from criminality both locally and internationally.
“Proposed amendments to the Money Laundering Bill will allow the government to better combat money laundering that finances terrorism and criminality,” Professor Scicluna said.
He said the proposed amendments are in line with measures being taken by international organisations that are continually improving their systems and structures in order to combat criminality.
