It was reported in this newspaper on March 22 that the Malta Financial Services Authority specifically identified shareholders, directors and senior managers and anyone connected to them when instructing Pilatus Bank to suspend banking activities.

Strange how politically exposed persons were not mentioned anywhere. What we really want to know is whether any PEPs were involved in this story. Not that I am hopeful we will ever know, as either bank documents and mandates were whisked away in the suitcases in the middle of that fateful night or account holders would have by now plenty of time to move their money elsewhere.