Malta: €8 billion annual risk of money laundering


Malta faces an annual €8 billion money laundering risk, according to figures quoted in a study presented to the European Parliament’s Pana committee. The committee, which visited Malta in February for a fact-finding mission on the island’s involvement in the Panama Papers scandal, was this month presented with a study on offshore activities and money laundering.

The report says many European countries use offshore jurisdictions for their less transparent business, where regulations are laxer than in their home country.