Multitude Bank plc’s Money Launder Reporting Officer (MLRO) Isaac Degaetano has resigned, effective as of today (Monday 17th November).

Interim arrangements have been effected for an orderly transition of responsibilities pending the appointment of a new MLRO, subject to regulatory approval. 

The bank expressed its gratitude to Mr Degaetano for his valuable contribution. 

Mr Degaetano has years of experience in the field of anti-financial crime. He has worked in various roles within the company, holding the position of Deputy head of AML and Deputy MLRO, as well as acting as Interim MLRO for most of 2023 before taking on the position of MLRO last September. 

He also holds a Bachelor’s Degree (Honours) in Economics from the University of Malta.

The bank is a subsidiary of Multitude SE and is licensed by the MFSA to provide a range of banking services to its clients. It also has an EU banking license, enabling it to provide services from Malta to other jurisdictions within the EEA, including accepting deposits, which are covered by the Maltese Depositor Compensation Scheme.