Featured Estonia

FinCEN Files: Dublin business features in leak of US treasury documents

An unprecedented glimpse into the staggering amounts of suspect money that flow through the international banking system is revealed in leaked files from an agency of the US Department of the Treasury that have been seen by The Irish Times. The files show that the world’s largest banks play a… Read More

Companies House to tighten its checks

The government is to overhaul the system of checks for Britain’s register of companies after criticism that the database is too easily abused by money launderers and fraudsters. Directors will be required to verify their identities with Companies House before they are appointed to a business under plans announced yesterday. Read More

Swedbank under investigation by Swedish regulator in new probe

Swedbank AB said Friday that Sweden’s financial supervisory authority is investigating the bank for suspected breaches of market-abuse regulations. In a statement, the bank said the investigation covers the period between Sep. 20, 2018, through Feb. 20, 2019, and relates to the disclosure of insider information and the obligation… Read More
18th September 2020
Swindlers are offering foreign students imaginary apartments for rent using false identities, addresses and other tricks of the trade. The police are all but powerless and urge people to stay vigilant as the scheme crosses more than one national border, ETV investigative journalism show “Pealtnägija” reported on Wednesday. “Everything was… Read More
26th August 2020
In a statement today, the Ministry of Foreign Affairs of Latvia and Ministry of Foreign Affairs of Estonia once again expressed their deepest concerns about the presidential election in Belarus, the result of which has not been recognized by the Belarusian society, and are urging for a peaceful and lawful… Read More
25th August 2020
A U.S. judge on Monday dismissed a lawsuit accusing Denmark’s Danske Bank A/S and four former top executives of defrauding shareholders by hiding and failing to stop widespread money laundering at its former Estonian branch. U.S. District Judge Valerie Caproni in Manhattan said shareholders in the proposed class action failed… Read More
7th August 2020
Prime Minister Jüri Ratas (Center) has been summoned to appear before two Riigikogu select committees next week, in connection with the confidential agreement signed last month between finance minister Martin Helme (EKRE) and an American law firm. Ratas, along with Chief State Prosecutor Taavi Pern and head of the Financial… Read More
30th July 2020
Companies linked to two Russian oligarchs exploited the opaqueness of the art world to buy high-value art, bypassing U.S. sanctions, according to a report by the U.S. Senate’s Permanent Subcommittee on Investigations that was published on Wednesday. American companies are barred from doing business with sanctioned individuals. But the report… Read More
29th July 2020
The Tax and Customs Board (MTA) wants to extend the list of key national security positions requiring due diligence measures in the fight against money laundering. “We propose extending the list … to the post of Chief of the Intelligence Center (kaitseväe luurekeskus), Deputy Director General of the Internal Security… Read More
27th July 2020
A few years ago, the biggest banks in one of the richest corners of the globe were adding thousands of jobs to a department that suddenly seemed more important than most others: compliance. But with headcount growing more than 10-fold in some cases, those same jobs are now at risk. Read More
13th July 2020
The trio of clients that got Deutsche Bank AG in regulatory trouble this week had a shared back story: They were all castoffs of JPMorgan Chase and Co. Deutsche Bank moved millions of dollars across the globe for convicted sex offender Jeffrey Epstein in the past decade, and billions… Read More
6th July 2020
Estonia said on Friday that it wanted to receive a share of any fines imposed by the United States if banks are found guilty of money laundering in the Baltic nation in ongoing inquiries. U.S. authorities are investigating Denmark’s largest bank Danske (DANSKE.CO), which was forced out of Estonia… Read More
30th June 2020
Estonian banks need to develop and improve their Anti-Money Laundering (AML) processes, including by having smarter know-your-client systems, the Bank of Estonia says, following a €1 million the Financial Supervisory Authority (FSA) imposed on the Scandinavian-owned SEB Pank on Thursday. This would be made easier by legislative changes and more… Read More