EU watchdog criticizes Malta for anti-money laundering shortcomings
12 Jul 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 alleged wrongdoings at Pilatus Bank, a lender on the island.

The Maltese FIAU said in a statement it was “disappointed” with the EBA’s report and had “serious reservations” about the enquiry.

The EBA’s enquiry pointed to general and systematic shortcomings in the FIAU’s application of EU anti-money laundering rules, the regulator said.

– Link to Reuters.

– By Francesco Guarascio, Reuters, 11 July 2018

You can claim CPD minutes for reading this article, by signing up to our CPD Wallet

FREE CPD Wallet
No Responses to “EU watchdog criticizes Malta for anti-money laundering shortcomings”

You must be logged in to post a comment.

This site uses Akismet to reduce spam. Learn how your comment data is processed.