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Malta’s FIAU And The Pilatus Bank Scandal
There is no stop to the scandals in which Malta’s FIAU is embroiled. Pilatus Bank was a Malta-based bank with a license issued by the Malta Financial Services Authority (MFSA) when Edward Scicluna was the Minister of Finance. Today, Scicluna is the Central Bank Governor of Malta. In September 2016, the Malta FIAU inspection highlighted several shortcomings in the bank’s operations. But the FIAU issued a clean bill of health.