FATF greylisting ‘a moment of responsibility that requires national consensus’ – Grech

Malta’s greylisting by the Financial Action Task Force and the efforts required to get out of this predicament require a national consensus and unity, Opposition Leader Bernard Grech said on Thursday.

He was addressing an event themed ‘Nemmnu fik. Fiduċja f’Malta.’

Grech described this as a moment of political responsibility that requires that everyone comes together to work for the good of the country.

The opposition, he said, has already extended the hand of friendship to the government. But this should not be seen as a sign of weakness.

Grech renewed his appeal to the government to involve experts and to carry out the necessary changes.

“The government must first and foremost acknowledge the problem. You cannot solve a problem if you do not acknowledge it. Then we can start working on this issue together, so that we can make progress by October, when the FATF meets again. This greylisting will not just go away. We will get out of it if we unite through hard work, determination and credibility.”

Grech said he was disappointed that the government keeps trying to hide the truth.

“We asked them to publish their correspondence with FATF, but they refused. We asked them to convene a meeting of the parliamentary committee on the economy and finances to discuss this urgent matter, but they refused. It is clear we have a government that does not want to cooperate and collaborate on such a sensitive issue. But because we believe in Malta and its people, and because we truly love this country, we will keep trying.”

Grech said there needs to be a change in the political mentality, not only of the country but also of the political parties. We cannot keep accepting this laissez faire attitude, he said. He called for more material and technological resources. The private sector has done a lot in this field, but it’s a different story with the government, he said.

“We want to strengthen the powers of the FIAU, MFSA, police, the Attorney General and the courts so that they can investigate better, freely and without any interference. The institutions should not be a tool in the hands of politicians to be used to crucify the common people. Those leading these institutions should be elected by a two-thirds parliamentary majority.”

He also called for added transparency on all government contracts.

“We want a change in the way citizenship is sold, based on real merit and established criteria. We must do away with the culture of secrecy and all names should be published. There should be a real link between these people and our country, in line with EU law.”

Malta, he said, must step up the fight against money laundering.

“We want a tax system that incentivises investment in our country. We want to keep the investment we already have and attract new investment. We want an economic policy based on the common good of the people. We cannot base our economic growth only on numbers and quantity, instead of on quality.”

“To get there, we need to work together. We must all be prepared to face this challenge together and to play our individual part.”

The event was also addressed by MEPs Roberta Metsola and David Casa, as well as Joe Giglio, David Pace Ross and George Vital Zammit.