Malta outranks major EU countries in AML

    March 01, 2021 | 1 minute read

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    Malta has ranked in the top 10% of 125 countries analysed by the Basel Institute for Governance, making it a low-risk jurisdiction for money laundering and terrorist financing.

    The Basel Anti Money Laundering Index is an independent annual ranking published by the Basel Institute on Governance since 2012. Its scope is to measure the risk of money laundering and terrorist financing from around the world.

    The risk scoring mechanism is based on fifteen publicly available data, including the Financial Action Task Force (FATF), the World Bank, Transparency International, and the World Economic Forum. The risk scoring mechanism covers five domains:

    • Quality of Anti Money Laundering (AML) and Combating the Financing of Terrorism (CFT) Framework;

    • Financial Transparency and Standards;

    • Bribery and Corruption;

    • Legal and Political Risks; and

    • Public Transparency and Accountability.

    Malta, already considered a low-risk jurisdiction, has continued to improve further this year. As a result, it has outperformed other established European jurisdictions, including the UK, Germany, France, Italy, and Luxembourg.

    In view that Malta has consistently ranked as one of the fastest-growing economies in the EU, these positive results provide comfort that the financial services industry is built on solid foundations.

    Malta already ranks as the country with the highest level of due-diligence for its Citizenship by Investment now known as the Malta Citizenship by Naturalisation for Exceptional Services by Direct Investment, and Permanent Residency by Investment programs. Given the establishment and travel rights they confer, these top-end programs are particularly coveted by High Net Worth Individuals (HNWIs).