MALTA: STATEMENT FOR SATABANK ACCOUNT HOLDERS AFTER CLOSED FOR AML FAILINGS

Malta Today on 3rd November reported that the Malta FSA has issued a set of FAQ regarding the current situation with Satabank, which had its operations frozen by the regulator last month in the wake of shortcomings in the bank’s AML procedures.  EY was appointed by the MFSA as the competent person to administer the bank.  There is no mention of the AML failing in the Q&A.

https://www.maltatoday.com.mt/news/national/90642/financial_services_regulator_issues_qa_statement_for_satabank_account_holders

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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