Money laundering – Latvia’s recent banking scandal | PKF Malta

The Malta Financial Intelligence and Analysis Unit (FIAU) has had a bumpy ride last year amid revelations that a number of confidential reports were leaked to the press concerning a number of politically exposed persons. FIAU has just published its informative annual report for 2017 which includes a detailed commentary on the number of investigated files, its legal powers and obligations.

Challenged by a number of local newspapers to reveal progress on spectacular files which were being leaked to the press targeting political engaged persons, FIAU replied that it is precluded by law from commenting. An intriguing case last year concerned the Maltese link in the Russian Laundromat scandal, which, quoting the media, amounted to around €3 million in allegedly laundered Russian funds having been transferred to Malta.

As more details surfaced in the tabloids, the case concerned four Maltese companies which received USD3 million in laundered Russian funds. This research was

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