On 2 January, the Times of Malta reported that a report from the local FIU, the FIAU, says that Satabank “blindly” took on a portfolio of clients from another financial institution in 2015 without assessing the money laundering risks involved.  A review of client portfolios in 2016 revealed “gross deficiencies” in relation to Maltese AML/CFT laws, the FIAU said.  The bank closed in 2018 after analysis of its operations found “lax and at times inexistent” safeguards to prevent money laundering and terrorism financing.

If you would like to make a (polite) gesture and make a (very) modest contribution to my ongoing with my relocation, removal and computer costs, I have a page at

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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