November 6 2018
Malta is at high risk of being exploited for money laundering, according to a national study revealed by the Times of Malta.
The Maltese government’s 2017 assessment, which has not yet been published, found the country to be at high risk of foreign proceeds of crime being transferred into the island, and at a medium-high risk of local crime, including tax evasion, fraud and drug trafficking.
The report also claimed that revenue from the illicit market in Malta reached 1.4% of GDP, while tax evasion was estimated to be 5% of GDP.