MEP ASKS 50 FIU TO LAUNCH INVESTIGATIONS INTO PILATUS BANK

The Malta Independent on 26th April reported that PN MEP David Casa has written to over 50 Financial Intelligence Units requesting an investigation into various aspects surrounding Pilatus Bank.

www.independent.com.mt/articles/2018-04-26/local-news/David-Casa-requests-UK-FIAU-investigation-into-Pilatus-Bank-6736188847

Meanwhile, the newspaper also reported that MFSA officials confirmed that the due diligence on Pilatus Bank was not carried out by KPMG but refused to tell MEPs which firm had carried it out saying they were bound by a confidentiality clause.  They insisted it was not KPMGnor a Maltese firm but a reputable institution which was commissioned to carry out such jobs by other EU Member States, including the UK banking watchdog.  Moreover, they insisted that at the time they were not aware that the Pilatus Bank owner was already under investigation by the US authorities.

https://www.timesofmalta.com/articles/view/20180426/local/mfsa-refuse-to-say-who-carried-out-pilatus-licence-checks.677488

Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section

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