In November 2021 Malta completed a risk assessment on tax evasion both in terms of laundering the proceeds of domestic tax evasion and in terms of potential tax evasion abroad with the laundering the foreign proceeds of crime in Malta. This is the first detailed risk assessment examining the risks of money laundering from tax evasion. The purpose of this risk assessment is two-fold: (i) to establish a common understanding of the existing risks regarding ML in Malta of the proceeds of tax crime (domestic and foreign), asses the quality of existing mitigation measures, and foster effective risk based effort More....

A sectoral risk assessment in the area of legal entities, legal arrangements and Voluntary Organisations was necessary, and this is especially so in view of the fact that these sectors do not represent a specific ‘sector’ of the economy, but rather they constitute the structures through which a nation’s economic activity is delivered.  The NCC in 2019 led the exercise for the completion of thematic risk assessments, including for legal entities and arrangements.  This sectoral risk assessment was a national effort and incorporated data and expertise from relevant authorities and the private sector.

Risk assessments are necessary, and this is especially so in view of the fact that the FATF guidelines recommend that it is important that countries assess and continue to monitor their TF risks regardless of the absence of known threats. The NCC in 2019 led the exercise for the completion of thematic risk assessments, including for terrorism financing, the focus of this analysis. In fact, this paper presents the salient points emerging from this sectoral risk assessment which was a national effort and incorporated data and expertise from relevant authorities. For competent authorities, the risk assessment will help prioritise efforts and resources More....

Malta is thoroughly committed to combatting all forms of ML/FT and this assessment is intended to develop a deeper understanding of the specific risks posed by this new sector, while at the same time embracing the opportunities presented by recent technical advancements.  The key results document presents a summarised view of the methodology and key findings of the risk assessment. Competent authorities and the private sector can use this key results document of the sectoral risk assessment to advance its risk-based approach to regulation, supervision and enforcement, and mitigate the ML/FT risks within this rapidly growing part of the economy.