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Malta gained an ignominious distinction Friday, becoming the first EU nation placed on an intergovernmental group's "gray list" of jurisdictions that pose a high risk of financial crime. The Financial Action Task Force, a global anti-money laundering standard setter, said in a statement at the end of its latest tri-annual summit that Malta failed to implement several key recommendations after an evaluation two years ago found the nation's anti-financial crime defenses largely lacking. "FATF recognizes that Malta has made good progress in a number of areas [but] is clear that there remain serious weaknesses," FATF President Markus Pleyer said in...