EU banks watchdog probes Malta agency over anti-money laundering at Pilatus bank

LONDON (Reuters) – The European Banking Authority said it has opened a formal investigation into Malta’s Financial Intelligence Analysis Unit (FIAU) over how it enforced anti-money laundering rules at Pilatus bank.

EBA Chair Andrea Enria said in a letter to the European Union’s executive European Commission that he has decided to open a formal “breach of union law” investigation in relation to FIAU, the Maltese anti-money laundering watchdog over its handling of Pilatus bank.

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