|Author (Corporate)||Cardiff EDC|
On 5 November 2018, the European Central Bank (ECB) revoked the license of the Maltese Pilatus Bank due to charges of money-laundering.
The ECB has been investigating the bank since the murder of the journalist Daphne Caruana Galizia, who had accused the bank of fraud.
The bank's chairman Ali Sadr Hashemi Nejad has been arrested in the United States (US) in March 2018 on charges of money laundering and sanction violations. After the chairman was arrested, the Maltese Financial Services Authority (MFSA) froze the assets of the bank and requested the ECB to take action.
|Subject Categories||Economic and Financial Affairs|
|Subject Tags||Monetary Affairs|
|Keywords||European Central Bank [ECB]
|Countries / Regions||Malta|