Updated 1200
Malta Linked to €75M Illegal Betting Network Run by Murdered Tycoon: A murdered Turkish-Cypriot businessman, Halil Falyali, allegedly ran a €75 million-a-month illegal betting network, using Malta as a key hub, according to his former finance chief, Cemil Önal. Falyali, who was wanted in the US for alleged money laundering, was assassinated in Northern Cyprus in 2022. Önal, now fighting extradition, detailed how Malta’s lax regulations facilitated money laundering through shell companies, bank accounts, and cryptocurrency. Turkish authorities linked Malta to Falyali’s network, which allegedly used “mule accounts” to launder funds. The operation spanned multiple jurisdictions, swiftly rebranding websites when blacklisted. Investigations continue, with Malta’s authorities examining Falyali’s financial links, while Önal claims powerful figures seek to silence him. (Times of Malta)
Ursula von der Leyen urged to probe Malta’s justice concerns: The European People’s Party (EPP), the largest group in the European Parliament, has urged European Commission President Ursula von der Leyen to investigate Malta’s justice system, citing concerns over declining rule of law. In a letter, the EPP criticised the government’s proposed reform of magisterial inquiries, arguing it would limit citizens’ rights and shield politicians from scrutiny. The group also highlighted the recent bail granted to Yorgen Fenech, accused of masterminding journalist Daphne Caruana Galizia’s murder, and corruption charges against former officials. Calling for urgent intervention, the EPP warned of a growing culture of impunity and disturbing rhetoric from government figures. The letter was co-signed by EPP leaders, including Manfred Weber and David Casa.
IĠM becomes a trade union: The Institute of Maltese Journalists (IĠM) is now a registered union following final approval from the DIER. The decision to transition into a union was made after a vote at the 2024 AGM, with the application submitted shortly after. While continuing to advocate for press freedom and professional standards, IĠM will now also regulate media professionals’ relationships with employers. The organisation looks forward to this new role and expresses gratitude to all members, past and present, who contributed to the process.
Morning Briefing
HSBC Malta says it has no information on potential buyers
HSBC Malta only learned about the potential sale on the day it was announced, CEO Geoffrey Fichte revealed during a tense shareholders’ meeting on Thursday. The meeting was called five months after HSBC Continental Europe, which owns 70% of HSBC Malta, announced a strategic review of its operations, possibly leading to a sale. Fichte and Chairman Manfred Galdes informed shareholders that HSBC Malta is not involved in the negotiations and has no information about potential buyers, except what is publicly known, including APS being one of the interested parties. (Times of Malta)
EIB approves major financing package to support Malta’ green investments
The European Investment Bank (EIB) has approved a €260 million financing package to support Malta’s investments for a smarter, greener, and more resilient economy. The first €130 million was signed in Valletta by Finance Minister Clyde Caruana and EIB Vice-President Kyriacos Kakouris. This funding will help Malta co-finance EU-backed projects for 2021-2027, driving economic growth, job creation, and social cohesion. It will support healthcare modernisation, SME growth, digital transformation, biodiversity protection, wastewater management, and sustainable transport. These initiatives aim to enhance sustainability, reduce emissions, and strengthen Malta’s economic and social resilience in line with EU goals. (Maltatoday)
Protest against fast-tracked inquiry reform called
A protest against the government’s fast-tracked magisterial inquiry reform will be held on Sunday at 4 pm in Valletta. Organised by Repubblika, Occupy Justice, and other NGOs, including the Daphne Caruana Galizia Foundation, aditus, Pen Malta, the Law Students Association, and Vici Kollettiva, the protest will start near the Parliament building. It aims to urge the government to pause the enactment of Bill 125, which changes how magisterial inquiries can be requested, and instead engage in proper consultation to strengthen the judicial system against corruption and organised crime. The government is pressing ahead with amendments that would limit citizens’ ability to request inquiries, facing opposition from the Nationalist Party and several organisations. (The Malta Independent)