26th May 2020
The 20 private military contractors (PMCs) who were evacuated from war-torn Libya aboard two Malta-leased RHIBs and to Valletta, were aviation experts getting ready to operate assault helicopters, MaltaToday has learnt. A full list of names in this newspaper’s possession clearly shows the men who arrived at the Valletta seaport on the Manta-1 rigid… Read More
26th May 2020
Pilatus Bank has been fined for past failures to provide information to the Financial Intelligence Analysis Unit, Malta’s anti-money laundering body. In a letter tabled in parliament, the bank’s administrator Lawrence Connell acknowledged payment of the €10,000 fine in December 2019. Connell said the bank was fined for its failure… Read More
22nd May 2020
A plan to boost European Union powers to curb the flow of dirty money through banks faced resistance at an EU meeting from member states recently hit by major money-laundering and financial fraud scandals, three officials told Reuters. The EU is discussing how to strengthen its scrutiny of the financial… Read More
21st May 2020
Panama Papers firm Nexia BT has been given a new licence requiring “high standards of conduct and compliance” to audit the internal IT systems and protocols of high-risk entities like cryptocurrency exchanges. Nexia BT Technology, a Nexia BT offshoot company, was certified as meeting these standards by the Malta Digital… Read More
18th May 2020
Malta is delaying the operational set-up of the European Public Prosecutor’s Office (EPPO) through its failure to nominate three eligible candidates to sit on its College of Prosecutors. Each EU member state which has joined the EPPO has to nominate three candidates for the position of European prosecutor, one of… Read More
12th May 2020
A new specialised team of international experts has been set up by the financial regulator to combat money laundering, handling 25 new cases last year. In the Malta Financial Services Authority’s 2019 annual report, chief executive Joseph Cuschieri said the team was established to improve oversight of firms’ anti-money laundering and… Read More
30th April 2020
A total of 25 Satabank clients initially suspected of criminal activity have walked away from the bank with €12.1 million after the police decided not to prosecute them. According to a report compiled by EY, which was handed control of the bank by regulators in October 2018, the frozen funds… Read More
30th April 2020
At times it can seem as if Swedbank’s recent history has been taken from the plot of a Nordic noir novel. There is a procedural bleakness to the Swedish bank’s money laundering scandal and a complexity to it all that does little to resolve the moral ambiguities of institutional malfeasance. Read More
28th April 2020
Authorities believe Malta-based companies may have been involved in providing weapons, tactical supplies and perhaps even private military contractors to players involved in the raging Libyan civil war. Sources involved in monitoring the island’s national security told Times of Malta that a network of Malta-based operators and their foreign partners… Read More
27th April 2020
A Maltese arms dealer has been charged with breaching EU sanctions on Libya. James Fenech, 41, allegedly used two military-grade Rigid Hull Inflatable Boats (RHIBs) to circumvent international sanctions and transport private contractors out of war-torn Libya without notifying the authorities. A mysterious Malta-registered boat found in the harbour or… Read More