Watch: Finance Minister Scicluna defends FIAU

Finance Minister Edward Scicluna told that if the person’s intentions were good, the person would have taken the FIAU reports to a magistrate rather than the Opposition Leader. Scicluna was questioned regarding the FIAU reports and if he still thinks that these reports were written to be leaked.

Scicluna defended the Financial Intelligence Analysis Unit (FIAU) with the press following the damning report by the European Banking Authority which found a number of shortcomings on the FIAU’s part. The Minister said that the FIAU replied to EBA’s first letter however according to Scicluna there is still time for the FIAU to reply and appeal EBA’s decision.

Finance Minister stressed that technical and competent people are available with FIAU to reply on the legal and technical affairs.

Defensively, the Minister argued that it is not true that an EU Directive was breached.

The Minister failed to reply to the questions made by journalists on why he blamed Nationalist MEP David Casa but in the same breath said that it was the European Commission that had asked the EBA to investigate the FIAU regarding Pilatus Bank.

The FIAU has so far remained silent aside from a statement which has been described weak by experts in the sector. A detailed response was promised, yet it is still to come.