The U.S. Treasury Department on Tuesday accused one of Latvia’s largest banks of having knowingly helped corrupt officials, arms traffickers and other criminals move profits through accounts held by foreign clients and anonymous shell companies.
Financial investigators in Malta are sifting through transactional records, internal emails and other data at Pilatus Bank for evidence of money laundering and other illicit activity, a senior regulator told European lawmakers Tuesday.
Members of the European Commission issued a letter to the European Central Bank, European Banking Authority, European Insurance and Occupational Pensions Authority and European Securities and Markets Authority stressing the need to strengthen anti-money laundering oversight.
May 8, 2018
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