Beyond the implications for health and the world economy, however, another reality has been the growth of financial crime. The Council of Europe stated recently that organised crime is making more than €100 billion a year in the European Union. Among others, Moneyval recommended conducting a detailed analysis of the threats of organised crime and the use of legal persons as well as assessing the vulnerabilities of the fintech sector and implications of corruption, tax evasion and black economy. Prime Minister Robert Abela’s administration is fully committed to the cause of fighting organised and serious economic crime. Edward Zammit Lewis is Minister for Justice, Equality and Governance .

Source: Forbes September 13, 2020 05:03 UTC