At the end of June, the Anti-Money Laundering and the Financing of Terrorism Development Group (FATF) gray-listed Malta and Romania. Jurisdictions were the first countries of the European Union to make this list.
In total, the FATF gray list currently includes 19 jurisdictions, such as Albania, Zimbabwe, Syria, Yemen, Myanmar, Panama and the Cayman Islands.
Getting on the gray list can have far-reaching consequences for a country's economy, affecting banking services, the ease of doing business and the island's attractiveness to foreign investors. The final decision to gray-list Malta and Romania will be made after consultation with the various FATF Associate Members.
According to experts, Malta was added to the gray list due to support for cryptocurrency and citizenship / residence permit by investment. The country will have to commit itself to rectifying the deficiencies in the individual action plan drawn up by the FATF experts. Once the plan is implemented, the jurisdiction will be able to regain its “full compliance” status.
