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Binance hackers shift stolen bitcoin, identity still unclear: researchers

Hackers who stole bitcoin worth over $40 million from the major Binance cryptocurrency exchange have moved the tainted coins to a number of digital wallets, researchers said on Thursday, potentially throwing up clues to those behind the heist. Binance, one of the world’s biggest exchanges, said on Wednesday that hackers… Read More

Council of Europe Urges Swift Action on Money Laundering, Citing Baltics and UK

European lawmakers are urging financial institutions and governments to address dozens of legal and supervisory shortcomings they say contributed to the proliferation of massive money laundering schemes in recent years. In a resolution adopted Thursday, the Council of Europe’s Parliamentary Assembly said that recent money laundering schemes linked to… Read More

Council of Europe Issues ‘Call to Action’ on Alleged Maltese Corruption

The government of Malta has no coherent plan to fight corruption and has failed to penalize officials for apparent criminality, a Strasbourg-based watchdog group said in a report Thursday. While the country has an adequate institutional framework “on paper” to mitigate governmental wrongdoing, a string of high-profile corruption scandals involving… Read More

3rd April 2019

MEPs Warn on Alleged Corruption in Malta and Slovakia

Members of the European Parliament are voicing concerns about the rule of law in Malta and Slovakia following the murder of two journalists investigating corruption and organized crime in the countries. The parliamentarians on Thursday formally adopted the conclusions reached last summer by a working group established within the Civil… Read More

26th February 2019

Malta leads on cryptoassets regulation while EU ponders

As the European Commission ponders whether the European Union needs rules for cryptoassets and trading in virtual currencies, EU states are moving ahead with their own regulations, with the smallest of them, Malta, leading the pack. The risks of investing in the industry were made clear last year when Bitcoin,… Read More

15th February 2019

Cyber attack on Malta bank tried to transfer cash abroad

Bank of Valletta which accounts for almost half of Malta’s banking transactions, had to shut down all of its operations on Wednesday after hackers broke into its systems and shifted funds overseas. Prime Minister Joseph Muscat told parliament the cyber attack involved the creation of false international payments totaling 13… Read More

17th January 2019

Money laundering: European Commission treatment of Malta ‘unfair’ compared to Latvia – MEP

The European Commission (EC) has handled money laundering issues regarding Malta disproportionally compared to Latvia, which had a ‘much more serious case,’ according to EU lawmaker and former Maltese prime minister Alfred Sant. Malta has been in the spotlight over a number of money laundering and corruption issues in recent… Read More

5th December 2018

UK regulator fines offshore online casinos over poor anti-money laundering controls

The United Kingdom’s Gambling Commission has taken action against three online casinos following an investigation into how firms handle money laundering and problem gambling. In its findings, the Commission highlighted a number of compliance failings across the firms. “Nearly £14m in penalty packages will be paid by three companies… Read More

20th November 2018

Money laundering: European Commission ‘targets small banks, closes eyes at big banks’

The European Commission has been accused of being biased in its approach to tackling money laundering, with a former Maltese leader saying the body targets smaller banks while turning a blind eye on such crimes at bigger European banks. Alfred Sant singled European Commissioner for Justice Vera Jourova, saying she… Read More

9th November 2018

EU urges Malta to comply with Anti-Money Laundering Directive after failings

The European Commission has requested Malta’s Financial Intelligence Analysis Unit step up its supervision of the banking sector after an investigation revealed that Malta had failed to ensure banks comply with EU anti-money laundering (AML) rules. Malta has been under the spotlight over various scandals related to money laundering,… Read More

6th November 2018

ECB orders Pilatus Bank to shut down after money laundering scandal

The European Central Bank (ECB) has withdrawn Maltese-based Pilatus Bank’s licence following allegations of money laundering and the arrest of its owner over financial crime charges in the US. The money laundering allegations around Pilatus, which was central to a scandal investigated by murdered journalist Daphne Caruana Galizia, go back… Read More

18th October 2018

Money laundering: Pilatus Bank could lose EU licence

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

EU watchdog backs plan to withdraw license from Malta’s Pilatus Bank

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

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