LATEST: Suspended Maltese bank Pilatus handed multi-million euro fine for ‘total disregard’ of AML safeguards - AML Intelligence
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LATEST: Suspended Maltese bank Pilatus handed multi-million euro fine for ‘total disregard’ of AML safeguards

By Dan Byrne for AMli

The Financial Intelligence Analysis Unit in Malta has slapped a huge financial penalty on an institution that lost its operating licence nearly three years ago.

Pilatus Bank – based in Ta’ Xbiex – will now pay out €4,975,500 after the FIAU found “serious and systemic,” concerns within its AML defences.

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