And then they claim the reports about Pilatus Bank are “lies and allegations”

Published: September 4, 2017 at 8:11pm

There’s a big story in The Guardian today that you really should read to get a sense of perspective on what is happening in Malta and particularly, at Pilatus Bank.

And to further confirm Malta’s foul reputation as World Money-Laundering Central, here’s an except from the report:

L Burke Files, an international financial investigator, said these company structures were “purposefully opaque”. Foreign criminals used Scottish limited partnerships, or SLPs, he said. In June the government announced SLPs would have to name their significant owners, or pay fines, amid evidence of growing fraud.

“No one suspects Scotland. It’s never been on the Financial Action Task Force (FATF) list of non-compliant countries,” Files said. “If you are going to launder money it’s probably best not to run it between Russia, Malta and the Cayman Islands. Does Scotland raise a red flag in your mind? No.”