The findings of the Financial Intelligence Analysis Unit (FIAU) investigation into Pilatus Bank are proof of how the Labour government not only turned a blind eye to money laundering and financial crime, but even defended institutions created precisely for this purpose, the PN said.

Pilatus Bank has been fined €4,975,500 by the FIAU for a “serious and systemic failure” in following anti-money laundering laws.

In a press statement on Wednesday, the Opposition recalled how former Finance Minister Edward Scicluna, who today, after giving himself a salary increase, holds the position of Governor of the Central Bank, had defended this bank at all costs.

He also attacked the European Commission, as according to Scicluna, it acted disproportionately against the bank.

The Nationalist Party said that the FIAU’s investigation into Pilatus shows that the bank used by Keith Schembri, Joseph Muscat’s right-hand man, did not ask any questions about tens of millions of transactions from places like the United Arab Emirates and Azerbaijan.

“These coincidentally are at the centre of scandals which have damaged our country’s reputation.

“As the Financial regulator Minister, Edward Scicluna had the responsibility on the banking system of our country. Not only did he not take the necessary action, but he even defended, until the last moment, an institution intended for criminal purposes, led by the Labour government,” the PN said.

The scandal-ridden story surrounding the Pilatus Bank is symptomatic of the Labour government’s leadership in recent years, the PN said.