newsare.net
Finance Minister Edward Scicluna has justified what PN MP Chris Said dubbed as an “explosion” in the FIAU 2018 budget, which mushroomed from the original approved amount of €1.6 million to €10.6 million. The FIAU has been in the spotlight over the pasMinister justifies FIAU budget ‘explosion’ to €10.6m
Finance Minister Edward Scicluna has justified what PN MP Chris Said dubbed as an “explosion” in the FIAU 2018 budget, which mushroomed from the original approved amount of €1.6 million to €10.6 million. The FIAU has been in the spotlight over the past few years after handling high-level money-laundering investigations involving politicians, including the Prime Minister’s chief of staff Keith Schembri, Tourism Minister Konrad Mizzi and Opposition leader Adrian Delia. Read: Casa publishes FIAU report showing €1.3m 17 Black transactions In July, the European Banking Authority demanded action by the FIAU after it deemed that the unit had breached EU anti-money laundering laws over its supervision of Pilatus Bank. The bank’s licence was withdrawn by the European Central Bank last November. The Finance Minister informed parliament that additional funds were needed by the FIAU for a number of reasons. Prof. Scicluna said security improvements were made to the way the FIAU handled data, as well as improvements to the building’s security and its staff. The Finance Minister said the unit’s human resources had been boosted and other changes implemented according to an established... Read more