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