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Malta’s Pilatus Bank shut down over fraud charges

The European Central Bank has revoked the licence of Malta’s Pilatus Bank after its chairman was arrested in the US on money-laundering charges. Malta’s Financial Services Authority announced the move, saying it had called on the ECB to take action. Journalist Daphne Caruana Galizia, who was killed by a car-bomb a year ago, accused the bank of processing corrupt payments. The EU has been investigating the bank ever since her…