Featured Malta

The European Central Bank (ECB) is reportedly looking to revoke the licence of Pilatus Bank, following the arrest of its chairman over money laundering charges and allegations it processed corrupt payments. Malta’s banking regulator has also previously recommended that the licence be withdrawn. The ECB’s supervisory board has… Read More
18th October 2018
The European Central Bank (ECB) is reportedly looking to revoke the licence of Pilatus Bank, following the arrest of its chairman over money laundering charges and allegations it processed corrupt payments. Malta’s banking regulator has also previously recommended that the licence be withdrawn. The ECB’s supervisory board has… Read More
27th September 2018
Europe’s banking watchdog has backed a recommendation by the Maltese financial regulator to withdraw Pilatus Bank’s banking license following the indictment of its chairman for money laundering. EBA’s move puts pressure on the European Central Bank which is expected to make a decision on whether to withdraw Pilatus’s license as… Read More
26th September 2018
Malta’s financial watchdog said a preliminary European Union investigation into how it applied EU anti-money-laundering rules at Pilatus Bank has been dropped. The Malta Financial Services Authority (MFSA) said on Tuesday that the European Banking Authority (EBA) found that no EU rules had been broken. “As a result, the… Read More
13th August 2018
Malta has signed up to join the European Public Prosecutor’s Office (EPPO), making it the 22nd country to join efforts to protect the EU’s budget against financial crime. The EPPO, which is set to be operational in two years time in all participating EU Member States, will seek to fight… Read More
26th July 2018
The EU has given Malta two months to fully transpose the Fourth Anti-Money Laundering Directive (4AMLD) into national law. The EU Commission sent a reasoned opinion to Malta about enforcing 4AMLD, which all Member States should have implemented by June 2017. Malta claimed to have implemented 4AMLD in December, however… Read More
12th July 2018
The European Union’s top banking watchdog has found “general and systematic shortcomings” in Malta’s application of EU anti-money-laundering rules, it said on Wednesday. The European Banking Authority’s (EBA) criticism came as it concluded an enquiry into the way Malta’s anti-money laundering watchdog the Maltese Financial Intelligence Analysis Unit (FIAU), investigated… Read More
2nd July 2018
Malta’s banking watchdog on Saturday asked the European Central Bank to withdraw the banking license of Pilatus Bank, whose chairman was indicted earlier this year by a U.S. court. Malta’s Financial Services Authority (MFSA) said it had formally filed for the withdrawal of the license due to the indictment of… Read More
28th June 2018
European Union banks face an anti-money laundering crackdown before the end of the year following allegations of wrongdoing at two Latvian and Maltese lenders, top officials say. The collapse of Latvia’s ABLV and the freezing of operations at Malta’s Pilatus Bank exposed shortfalls in recent reviews of anti-money laundering rules,… Read More
22nd June 2018
A gambling firm which failed to conduct important anti-money laundering checks on a customer whose deposits eventually reached £750,000 has been fined £2 million by the Gambling Commission. The watchdog said 32Red should have reviewed the customer’s account for source of wealth and other checks in 2016, but ‘because of… Read More
15th June 2018
Greece’s Supreme Court ruled on Thursday against the extradition of a whistleblower at the centre of a Maltese corruption scandal, judiciary sources said. Malta has issued two extradition requests for Maria Efimova, a Russian who stirred a political scandal over allegations of wrongdoing at Maltese-registered Pilatus Bank. Daphne Caruana Galizia,… Read More
Must Read

Germany: Santander bank caught up in major tax evasion investigation

Prosecutors in Germany have launched a probe into the role Spanish bank Santander may have played in a widespread tax fraud scheme. The probe, which has seen the authorities examine the role of other banks, looks at allegations that Santander executed trades that facilitated ‘severe tax evasion’ between 2007 and… Read More

Denmark investigates Nordea Bank over money laundering allegation

Denmark’s state prosecutor has launched a probe into a complaint that Nordea Bank facilitated money laundering. The Danish State Prosecutor for Serious Economic and International Crime declined to name the firm that made the allegations, but said in a tweet: “We can confirm that we have received a report… Read More