Malta’s Pilatus Bank shut down over fraud charges

Malta’s Pilatus Bank shut down over fraud charges

The European Central Bank has revoked the licence of Malta’s Pilatus Bank after its chairman was arrested in the US on money-laundering charges.

Malta’s Financial Services Authority announced the move, saying it had called on the ECB to take action.

Journalist Daphne Caruana Galizia, who was killed by a car-bomb a year ago, accused the bank of processing corrupt payments.

The EU has been investigating the bank ever since her murder.

BBC News

https://www.bbc.com/news/business-46097564