Financial Crime World

Malta’s Financial Corruption Remains Unchanged: Report

A recent report monitoring corruption around the world has revealed that Malta has maintained its level of financial corruption, with a rating of 51 out of 100 in the 2023 Corruption Perception Index (CPI) published by Transparency International. This score is unchanged from last year and falls within the “flawed democracy” category.

Slipping Rankings

Malta’s ranking slipped one place to 55 out of 180 countries surveyed, placing it just behind Saudi Arabia. According to the report, only EU countries with lower scores than Malta are Croatia, Greece, Romania, Bulgaria, and Hungary.

Justice System Concerns

Transparency International highlighted issues in the justice system of eight EU countries, including Malta, as noted by a European Commission report. The organization also referred to a recent European Parliament resolution calling on Maltese authorities to step up investigations into possible instances of former public officials attempting to conceal evidence and obstruct investigations and judicial proceedings related to the murder of investigative journalist Daphne Caruana Galizia.

The report notes that weak accountability and political corruption are undermining the rule of law and trust in public institutions in Western Europe and the EU. Only six countries have seen improved scores from last year, while eight have continued to decline since 2012. Globally, Transparency International reported a decline in justice and rule of law since 2016, citing a “rise in authoritarianism” and a weakening of checks and balances in democracies.

Index Criteria

The Corruption Perception Index examines instances of:

  • Bribery
  • Diversion of public funds
  • Officials going unpunished using public office for private gain
  • Bureaucracy being used for corrupt purposes
  • Nepotistic appointments
  • Public officials disclosing their finances
  • Legal protections for whistleblowers
  • Vested interests
  • Level of public access to government information

Least Corrupt Countries

Denmark and Finland retained their position as the least corrupt countries, unchanged from last year.