Reuters exclusively reports ECB flags failings in dirty-money screening at Malta’s top bank

Reuters exclusively reported that Malta’s biggest bank failed for years to detect or address risks involving thousands of payments, the European Central Bank (ECB) said, detailing “severe shortcomings” that could have allowed money laundering or other criminal activities. A confidential ECB report seen by Reuters said Bank of Valletta had not dealt with a litany of risk management failings despite repeated warnings from the Frankfurt-based regulator stretching back to 2015.