It-Torċa says that 17 Black had been dormant since 2015, before the Panama Papers leaks were published in 2016. The paper says the reports published by Reuters and The Times of Malta this week are ‘only allegations’ and that the Maltese authorities have been investigating the case.
It-Torċa also says that local banks are receiving requests for de risking of corporate accounts from foreign banks. The paper says that local banking finds itself in a bind after procedures to open accounts in Malta have become even more stringent, at times hindering certain sectors that are interested in investing.
