ECB shuts Malta’s Pilatus Bank after money laundering allegations

23

November 5 2018

The European Central Bank has withdrawn the banking licence of Malta’s Pilatus Bank, the island’s financial regulator said on Monday, after the lender was accused of processing corrupt payments for senior Azeri and Maltese figures.

The accusations were made by investigative journalist Daphne Caruana Galizia, who was killed a year ago by a car bomb in Malta.

“The ECB’s Governing Council has decided to withdraw the authorisation of Pilatus Bank with effect from today,” Malta Financial Services Authority (MFSA) said in a statement.