News

Malta's finance minister on Thursday announced the creation of a new agency for combating "organized financial crime" but offered little detail on how the unit would operate in practice. Edward Scicluna told a press conference in Valetta that his government wants to address global criticism of Malta's defenses against financial crime by more frequently involving prosecutors in money laundering investigations, and boosting the resources of public authorities to increase conviction rates and ensure greater recovery of criminal assets. Maltese ministers also approved the creation of a new unit, the Financial Organized Crime Agency, to bring regulators, investigators and prosecutors together...