Malta: NAO report on Voluntary Organisations highlights significant risks of money laundering

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December 11 2018

The Office of the Commissioner for Voluntary Organisations (OCVO) is unable to ascertain how much money is being raised by NGOs or how it is being used, the National Audit Office (NAO) warned.

“The lack of a proper system where details of individuals donating significant amount of cash to VOs were not recorded lessened transparency. Moreover, it increased the risk of OCVO, as the main Regulator of the Voluntary Sector in Malta, to combat money laundering as well as tax evasion,” the NAO said in a report.