Updated 8.14pm with government reaction - Opposition leader Adrian Delia has expressed concern over reports that Venezuelan President Nicolás Maduro and his colleagues laundered over €511million through a company in Malta.  

In a statement also signed by Mario de Marco and Kristy Debono, shadow ministers for finance and economic affairs, Dr Delia said protection of Malta's reputation in financial services was not being taken seriously by the government.

Dr Delia said the latest revelations had to be seen in the contest of the court procedures being taken in the United States against the former chairman of Pilatus Bank, Ali Sadr, for having allegedly been involved in money laundering, also in Venezuela, before the bank was registered in Malta. 

Dr Delia said that now that the prime minister had assumed direct responsibility for financial services, it was his duty to act in defence of Malta's reputation.  

In a reaction, the government said the opposition was being irresponsible when it expected the government to interfere in regulatory issues.

"It would be appropriate for the Opposition to stop playing political games with people’s livelihood in the industry and act in the national interest.

"The government trusts the Malta Financial Services Authority to act according to due process, a statement read.