Tista' taqra bil- Malti.
The European Central Bank has withdrawn the licence of Satabank plc as from Tuesday, on the advice of the Malta Financial Services Authority.
All of the bank’s 12,000 accounts had been frozen by the MFSA on October 2018 over widespread breaches of money laundering laws, and the bank was eventually slapped with a €3 million fine.
That same month, the MFSA had appointed Ernst & Young to monitor and advise the bank, and EY will continue do to so until otherwise decided by the authority.
The controlled process for the return of customer deposits carried out since October 2018 will not proceed further.
EY will continue to process customer files where complete information required for the return of funds has been received by 30 June. It will not be able to process files where pending queries remain outstanding, and will be unable to accept or review any new and/or additional information.
Customers who have been asked to provide payment information details are to submit it by no later than 15 July.
Further information may be obtained through the MFSA’s website mfsa.mt or by contacting the authority on Freephone 8007 4924.