Tag: FIAU
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Sacrificing the plebs on the altar of the FATF
Yesterday, Times of Malta, published an interview by Bank of Valletta’s CEO Kenneth Farrugia who said that Malta does not risk getting grey-listed again by the Financial Action Task Force (FATF) because local banks have introduced a wide-range of measures to combat money-laundering. This is a very nuanced statement which deserves a reality-check and a…
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The FIAU report shows a number goes up mentality but with no substance
The FIAU’s annual report has been released and it provides for some very interesting reading. The report states that there have been around a 100% increase in suspicious crypto-currency transactions totaling up to 3712 suspicious transactions in crypto-currency. These transactions were not possibly detected manually. They are being detected via electronic systems. The number doesn’t…
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BREAKING: The Labour Government is clamping down on the FIAU
The Maltese Herald has confirmed thanks to several sources that the ongoing campaign by the Police to sign MOUs with several entities is a conspiracy enacted by the government and supported by Police Commissioner Angelo Gafa to bypass the Financial Intelligence Analysis Unit. The government is executing an ongoing plan to clampdown on the FIAU after the…
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Jason Azzopardi quizzed by the Financial Crimes Investigations Department
Jason Azzopardi yesterday announced that he was quizzed by the Police’s Financial Crimes Investigations Department. The Police have re-opened an investigation about Social Housing Minister Roderick Galdes after new revelations about his property accumulation emerged in the press and by Jason Azzopardi. The Police had a case-file by the FIAU about the Social Housing Minister…
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Confirmed by The Maltese Herald: Police have re-opened Roderick Galdes’ FIAU file
The Maltese Herald has confirmed with Police sources that the Police have re-opened the FIAU’s file about Social Housing Minister Roderick Galdes. The file had been previously submitted to the Police as early as 2021 but the Police eventually shelved the case leading to no prosecutions. The Prime Minister has also confirmed that the Police…
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Minister Roderick Galdes was investigated by the FIAU
The Maltese Herald can confirm that Roderick Galdes has been investigated by the FIAU over his property purchases and has been investigated in particular about his property purchase in the UK among his property purchases in Malta. However, the Police have a custom of not taking action on FIAU reports that are related to Labour…
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Exclusive: Unofficial government policy is not to make any assets seizures
The Maltese Herald has reached out to various high-profile individuals within the authorities an the Justice system to try and understand why there has been a very low amount of assets seizure in 2024. The Asset Recovery Bureau has only seized up to €1 million in assets in 2024 compared to €18.6 million in 2023.…
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Tax-Xalluwa Café Bar closes down
The gravy train appears to have ended for former Tourism Minister Clayton Bartolo and his wife, as they have closed down their small private business Tax-Xalluwa Café Bar, which was potentially opened using illicit proceeds the Minister may have obtained during his time in office. The Minister is currently being investigated by the Police over…
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The Prime Minister’s latest purge: Prosecutors
In an unprecedented move that has rocked and effected changes to the Office of the Attorney-General and The Commissioner for Standards in Public Life, Prime Minister Robert Abela is effectively purging Prosecutors working on the cases related to investigations of the Commissioner for Standards in Public Life. Some of these cases include fraudulent declaration of assets…
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OkCoin Europe, now OKX fined €1 million by the FIAU over AML violations
The OKCoin Europe Exchange, now fully rebranded into OKX, has been fined €1,054,269 by the Financial Intelligence Analysis following a list of Anti-Money-Laundering violations. Among these AML violations by the OKCoin exchange include failure to do proper customer review assessments (CRAs) of up to 50% of its clients, failed to do proper due diligence on…
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One thing Nigel Scerri failed to mention is that he is under Police investigation
Despite telling me many details about his lifer and a long story about his good-will and interest to create a charitable institution, when speaking to me, Nigel Scerri failed to mention that he is currently under Police investigation over suspicious transactions. Nigel Scerri is an accountant who bought George Borg Olivier’s house and has spent…
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Opposition MP Mark Anthony Sammut calls out corruption scandal involving Clayton Bartolo’s wife
The resignation of Tourism Minister Clayton Bartolo has escalated into a major scandal amid allegations that his wife, Amanda Muscat, received €50,000 in suspicious payments flagged by the FIAU, Malta’s anti-money laundering agency as revealed by The Times of Malta earlier this afternoon. The Shift news then revealed these were kickbacks linked to a Malta…
