EU pressures Malta over Bank of Valletta 'golden passport' clients

BRUSSELS (Reuters) - The European Commission has asked Malta to clarify how it intends to address Bank of Valletta's shortcomings over its monitoring of foreign customers who applied to buy Maltese citizenship under a so-called "golden passport" scheme.Malta, with a population of only 420,000, has sought to attract foreign capital with schemes such as the cash for passport programme, even though the EU has highlighted the risks of this potentially attracting the proceeds of criminal activities...