Featured Estonia

Estonia Says It’s Entitled to Majority of Money Laundering Fines

Estonia should get the “majority” of fines that banks under investigation for their roles in Europe’s biggest money-laundering scandals are likely to face, Finance Minister Martin Helme said. “We are talking about hundreds of millions at least, possibly about billions,” Helme said in a post on his Facebook page. Read More

Deutsche Bank took years to flag suspect Danske money flows – source

Deutsche Bank did not disclose more than one million suspect money transfers with Danske Bank until February, a person with direct knowledge of the matter said, about five years after a whistleblower flagged suspicious transactions at Danske. Deutsche (DBKGn.DE) sent alerts about the suspect money flows involving the… Read More

Danske Bank stops hiring new staff amid higher compliance costs

Danske Bank (DANSKE.CO) has started a hiring freeze to cope with rising compliance costs and a tough business environment, the bank said on Thursday. Danske Bank has been rocked by its involvement in a major money laundering scandal. It said last year it had channeled 200 billion euros… Read More
10th October 2019
The International Monetary Fund (IMF) is asked to conduct an independent evaluation of money laundering prevention in the Nordic and Baltic region, a member of the Bank of Lithuania’s board said Wednesday. “A regional monetary prevention evaluation will be performed,” Marius Jurgilas told members of the Seimas Committee on Budget… Read More
10th October 2019
A court in Helsinki has dismissed all charges in the largest money laundering case ever tried by a Finnish court, in which two Estonian nationals were suspected of laundering €135 million in total. Finland’s public broadcaster Yle reported that the district court’s decision is not final and can be appealed. Read More
9th October 2019
A court in Finland is set to pass judgment today in the largest money laundering case ever tried by a Finnish court, in which two Estonian nationals are accused of laundering €135 million in total. According to prosecutors, the Estonians laundered approximately €135 million of illicitly obtained Russian money into… Read More
7th October 2019
Between 2009 and 2015, Mihhail Murnikov spent his days handling as many transactions as he could at the non-resident unit of Danske Bank A/S in Estonia. Roughly a year after Danske admitted that those transactions were part of a $220 billion money laundering scandal, prosecutors from Tallinn to Washington D.C. Read More
7th October 2019
The government said it would further intensify and combat money laundering at its Cabinet sitting on Thursday after it received an overview of developments in the prevention of money laundering. Prime Minister Juri Ratas described combating money laundering as being of utmost importance for Estonia. He said the reliability of… Read More
1st October 2019
Swedbank has removed three executives from its Estonian business and appointed their replacements, including a new head of the unit embroiled in an international money laundering investigation. The Swedish lender has already fired its CEO and its chairman resigned in the wake of the allegations being investigated by authorities in… Read More
1st October 2019
The former head of the Estonian branch of Denmark’s scandal-plagued Danske Bank committed suicide, police and prosecutors said Monday. Police found the body of Aivar Rehe, 56, in his yard last Wednesday, two days after he had gone missing. Rehe was the head of Danske Bank’s Estonian branch from 2008… Read More
30th September 2019
Estonia’s interior minister on Sunday called for an enquiry into the death of the former head of Danske Bank’s Estonian branch, which is at the center of investigations into the world’s largest money laundering scandal. Last week, police in Estonia discovered the body of Aivar Rehe, who ran the Danish… Read More
27th September 2019
Denmark is proposing steps to protect bankers amid evidence they regularly receive threats for exposing clients involved in suspicious dealings. The Danish government wants to make it possible to keep bank clients in the dark if they’ve triggered a suspicious activity report. The country’s bankers association, Finans Danmark, is throwing… Read More
27th September 2019
The former head of Danske Bank in Estonia, the unit at the center of a $220 billion money-laundering scandal, was found dead after disappearing from his home on Monday. Aivar Rehe, who was chief executive officer of the branch until he left in 2015, had been reported missing from his… Read More