3rd March 2020
A Swiss company was accepting smuggled fuel from Libya inside tanks leased from Enemed between 2014 and 2015, to resell the oil at sea and the European market. Kolmar, of Zug, acquired the oil from the smuggling operation ran by Libyan smuggler Fahmi Slim Ben Khalifa, and Maltese nationals… Read More
27th February 2020
In the dry, warm Angolan autumn of 2014, billionaire Isabel dos Santos and her husband, Sindika Dokolo, dreamed of beer. Lots and lots of beer. Dos Santos, the Angolan president’s favorite daughter, had long pined for a brewery of her own to break into the southern African country’s lucrative drinks… Read More
20th February 2020
Three UK nationals with vast experience in the UK financial services market (within the Bank of England, Financial Conduct Authority and the private sector) are set to take up, in the coming weeks, a number of senior positions within the MFSA’s supervisory area namely banking supervision, financial crime compliance and… Read More
14th February 2020
The government has given its assurance that it will soon implement the EU’s new anti-money laundering rules, as Malta faces infringement procedures later this month if it fails to do so. The fifth anti-money laundering directive, the latest set of rules designed to cut down on financial crime in Europe,… Read More
13th February 2020
A number of international banks were declining to do business with Maltese nationals as they viewed the jurisdiction to be too risky, sources within Malta’s financial institutions warned. Sources from the financial sector and banking regulators confirmed they had received reports from Maltese nationals and Malta-based businesses after overseas banks… Read More
7th February 2020
A Maltese wealth management firm linked to an alleged conspiracy to embezzle over a billion dollars in Venezuelan oil money has been given a year to fix its anti-money laundering controls. The financial regulator was forced to revisit its decision to effectively suspend Portmann Capital’s operations indefinitely after the firm… Read More
3rd February 2020
Another three people have been arrested in connection with last year’s €13 million Bank of Valletta cyber heist, after €950,000 was funneled through an account in Northern Ireland. Friday’s announcement by the UK’s National Crime Agency follows the arrest of three other men in Belfast and London earlier this week. Read More
30th January 2020
Whistleblower Maria Efimova plans to pay an “independent” company to verify documents she says will name the real owner of secret offshore company Egrant Inc. The former Pilatus Bank employee has so far raised over €9,650 of the €15,000 target amount, through a fundraising campaign she started six days… Read More
28th January 2020
Malta’s foremost business lobby is “greatly concerned” with the country’s latest classification in the annual corruption perception index and has called on the new prime minister to address “allegations” concerning major contracts awarded by the government over the past seven years. Many major projects spearheaded by the Labour government, including… Read More
27th January 2020
Her website once described her as a “poet, mezzo-soprano, designer and exotic Uzbekistan beauty”. Or, as more critical voices have put it, a “robber baron” who purloined hundreds of millions of pounds in bribes. Now another facet of Gulnara Karimova has come to light: former neighbour of Sir Bruce Forsyth. Read More