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ECB Shuts Down Maltese Bank Over Schemes to Launder Money and Evade US Sanctions - Coins On News
Finance Malta’s Pilatus Bank has been shut down by the European Central Bank (ECB). Its banking license was revoked after its chairman was charged in the U.S. with money laundering and organizing a scheme to evade U.S. sanctions. The bank had also been accused by a murdered journalist of processing corrupt payments. EU authorities now want new powers to crack down on money laundering. Also read: Yahoo! Japan Confirms Entrance Into the Crypto Space Pilatus Bank’s License Revoked Malta Financial Services Authority (MFSA) announced on Monday that the ECB has withdrawn the banking license of Pilatus Bank which has been operating in