Bank officials and the revolving door

The money laundering criminal case instituted this morning relative to the possible use of a number of restaurants in the scam is another milestone for the Malta Police.

It is however very worrying as it shows the “revolving door” recruitment with ease which former bank officials use from their regulatory role in the bank to an operational role in the companies they should have kept a watch over. The question which begs an answer is whether the “revolving door” recruitment is payment for services rendered.

It is another lacuna which needs decisive action the soonest. Regulating “revolving door” recruitment is not just an issue for politicians.

Hopefully the Malta Financial Services Authority (MFSA) takes decisive action urgently.