Ali Sadr Hasheminejad

Pilatus Bank – Lest we forget

The FIAU revealed “serious shortcomings” that placed Pilatus “in breach of several provisions” of Malta’s money laundering rules, and which exposed the bank and “the jurisdiction as a whole to a high level of risk”. FIAU at the time had found Pilatus’s dependence on a small clientele of mainly Azerbaijani PEPs of great concern. Sadly MFSA and the Police Commissioner did not share the FIAU’s view.