Malta has pledged at the London Anti-Corruption Summit to implement a number of measures to stamp out corruption, punish the corrupt and support the victims of corruption.
The first pledge is to establish a central register of company beneficial ownership information for companies incorporated in Malta as well as the exchange of beneficial ownership information in line with the EU Directives which will come into force in 2017. It said it would also ensure law enforcement agencies have full and effective access to beneficial ownership information for companies and other legal entities registered within their jurisdiction.
“We are committed to implementing bilateral arrangements that will ensure that law enforcement authorities in one partner country have full and effective access to the beneficial ownership information of companies incorporated in the other partner countries. Malta is committed to deploying public-private information sharing partnerships over the medium to long term, to bring together governments, law enforcement, regulators and the financial sector to detect, prevent and disrupt money laundering linked to corruption. Malta is in the implementation phase of the necessary frameworks and legislations to support such commitments.
Malta is also committing to implement the principles of the Open Contracting Data Standard and enhance its current systems which are in line with EU and international standards and will apply such standards to major projects in energy, health and infrastructure sectors. We also commit to undertake IMF Fiscal Transparency Evaluation.
Malta also welcomed the UK initiative to establish an independent International Anti-Corruption Coordination Centre (IACCC).
“We will establish accessible central databases of companies with final convictions and exploring ways of sharing information on corrupt bidders across borders. We commit to strengthen asset recovery legislation, including through non-conviction based confiscation powers and the introduction of unexplained wealth orders and to developing internationally-endorsed guidelines for the transparent and accountable management of returned stolen assets.”
“Malta will join the International Sport Integrity Partnership and keep strengthening its authorities that fight corruption in sport Malta welcomes and will support the Anti-Corruption Innovation Hub to connect social innovators, technology experts and data scientists with law enforcement and civil society organisations that will facilitate the uptake of new approaches and technologies to tackle corruption. We will work with others countries, civil society, international organisations to support accelerated implementation of the voluntary provisions of the UN Convention Against Corruption.”
Prime Minister Joseph Muscat's participation at the summit was criticised by The Guardian in the wake of the Panama Papers scandal involving Minister Konrad Mizzi.