Financial Crime World

Malta’s Corruption Problem Persists: Report Reveals Widespread Bribery and Graft in Finance Sector

A Grim Picture of Corruption in Malta

A recent report by Transparency International has painted a grim picture of corruption in Malta, with the country maintaining a score of 51 out of 100 on the Corruption Perception Index (CPI). This ranking puts Malta just behind Saudi Arabia and among the lowest-scoring countries in the European Union.

Widespread Bribery and Graft in Finance Sector

The report suggests that Malta’s government is plagued by widespread bribery and graft, particularly in the finance sector. The CPI scores countries based on how corrupt their public sector is perceived to be by business leaders and experts in the field. A score of zero indicates “highly corrupt” while a score of 100 represents “very clean”. In Malta’s case, the country has seen a decline in its score over the years, with its highest score achieved back in 2015.

Areas of Concern

The report highlights several areas of concern, including:

  • Judicial Independence: The European Commission has identified issues with the justice system in eight EU countries, including Malta.
  • Political Corruption: A recent European Parliament resolution called on the Maltese authorities to investigate possible instances of former public officials attempting to conceal evidence and obstruct investigations into the murder of investigative journalist Daphne Caruana Galizia.

Globally, the report reveals a decline in justice and the rule of law since 2016, with a rise in authoritarianism and a weakening of checks and balances in democracies. Only 28 countries have managed to improve their score over the last 12 years while 34 have seen corruption significantly worsen.

Red Flags

The report highlights several red flags, including:

  • Bribery: Instances of bribery were identified as a major concern.
  • Diversion of Public Funds: The diversion of public funds for personal gain was also noted as a problem.
  • Lack of Accountability: Officials going unpunished and using public office for private gain were also highlighted as issues.

Calls for Action

The Daphne Caruana Galizia Foundation, Transparency International’s Malta contact, has called for greater efforts to tackle corruption and improve transparency in government dealings. The organization has urged the Maltese government to take concrete steps to address the issue, including:

  • Increasing Accountability: Strengthening anti-corruption laws and increasing accountability were key recommendations.
  • Improving Transparency: Increasing transparency in government dealings was also seen as a crucial step.

Consequences

As the Maltese people continue to struggle with the consequences of widespread corruption, it remains to be seen whether the government will take meaningful action to address this pressing issue. One thing is certain, however: Malta’s poor performance on the CPI will only serve to undermine trust in its institutions and deter foreign investment.

Conclusion

Malta’s corruption problem persists, and it is essential that the government takes concrete steps to address this issue. The report highlights several areas of concern, including bribery, diversion of public funds, and lack of accountability. It is up to the Maltese government to take action and improve transparency in government dealings.