The ongoing investigation into beleaguered Malta-based Pilatus Bank will not include the firm’s account holders at the moment, sources close to the matter said.
According to local newspaper Times of Malta, the police is focusing on the officials that have allegedly facilitated money laundering but not the alleged launderers themselves.
The sources added this is because the bank’s clients are not seen as priority targets by the Maltese police.
This comes a week after Pilatus’ head of legal and former money laundering reporting officer Claude-Anne Sant Fournier was charged with money laundering offences, and a magisterial inquiry recommended criminal charges against eight other people.
Additional charges are expected to follow.
On 1 September 2021, the bank was fined nearly €5m (£4.3m, $6m) for anti-money laundering breaches, after it failed to carry out enhanced due diligence on high net worth and politically exposed clients coming from, and doing business in, high-risk jurisdictions.
