Issue link: https://maltatoday.uberflip.com/i/1384247
5 NEWS 10.6.2021 'Political interference in FATF verdict could open Pandora's box' - minister THE minister for Foreign Af- fairs Evarist Bartolo has said he feels Malta does not deserve to be grey-listed as it has carried out recommendations as instructed by the Financial Action Task Force (FATF). "I am not a prophet, and so I can- not say what will happen, but what I know is that we have done our utmost to not get grey-listed," the minister said. Bartolo said Moneyval has stated the country was among the first to be largely compliant with the FATF recommendations. "We have changed laws and set up structures. We have really done a lot," he said. e minister said Malta has ad- dressed in a "basic and radical way" the measures we needed to introduce on money laundering, due diligence and rule of law. "I don't think we deserve to be grey-listed," Bartolo said. A formal position could be an- nounced on 23 June during the plenary meeting of the FATF. Evarist Bartolo: 'We do not deserve to be grey-listed' Bernard Grech writes to FATF KURT SANSONE CLYDE Caruana has departed from his usually sober self as he warns of "ulterior political motives" that could undermine Malta's evaluation by the Financial Ac- tion Task Force. In a pointed Facebook post in Maltese, the Finance Minister said government will be forced to take the necessary steps to protect the national interest if this happens. Caruana said that Malta passed from all the points in the technical exam un- dertaken by the Council of Europe body, Moneyval. e report is now being dis- cussed by the Financial Action Task Force, an international body. "If we follow logic that a country should pass the test on the basis of this exer- cise, Malta will pass. But if the technical process is subverted by ulterior political motives, the outcome could open a Pan- dora's Box. If this happens, this will be unjust with all the serious work that is being done and was done over the past year-and-a-half and it will neither do jus- tice with the Maltese people," Caruana wrote. It is the FATF, which is also swayed by US influence, that has the final word on the whether Malta is placed on the grey list, which would be a signal to the glob- al financial and banking system about heightened risks from transactions with Malta. A final decision by the FATF is expected on 23 June. Caruana said that irrespective of Malta's size, it remained a sovereign country with an identity, a flag and a national anthem. "Just as other countries protect their in- terests, we will also take all the necessary steps to protect the interests of our coun- try and our people," he insisted. MEANWHILE, Opposition leader Bernard Grech has writ- ten to the FATF to assure them that as an alternative gov- ernment his party would restore Malta's international repu- tation. He said it was worrying that the US, the UK and Germany had taken a position against Malta in yesterday's FATF meet- ing. "is is a matter of national importance that can negatively impact the financial services industry and the gaming sec- tor among others. e political responsibility for this falls squarely on the Labour government. It needs a change in mentality and not an exercise of ticking boxes as Robert Ab- ela has said," Grech said. He added that after years of sacrifices to build the industry, Malta should have never been put in this position.