The Times of Malta reports that despite previous international criticism for its failure to crack down on money laundering and high level corruption, the Malta Ministry of Finance has scrapped plans to set up a dedicated Financial Crime Agency. Financial institutions should regularly re-assess the financial crime risks prevalent in the jurisdictions in which they operate, or use an independent tool like Plenitude Compass to inform their view of country risk.

https://timesofmalta.com/articles/view/plans-to-set-up-financial-crime-agency-are-scrapped.849743