Featured Estonia

Estonian prosecutor seizes 2 million euros from former Danske Bank employee

Estonian prosecutors said on Friday that last month they had ordered a local court to seize around 2 million euros ($2.24 million) from a bank account belonging to a former Danske Bank employee as part of an investigation into alleged money laundering. The money was sitting in a Latvian bank… Read More

Have a Good Idea for Danske Bank? Email the CEO. Seriously

The new chief executive officer of Danske Bank A/S says he wants anyone with good ideas about how to run his firm to contact him. About 1 1/2 years after Danske was slammed by its financial regulator for having a culture that… Read More

Swedbank Slashes Dividend as Baltic Dirty-Money Probes Drag On

Swedbank AB acknowledged it will no longer be able to live up to its goal of paying out one of the highest dividend ratios in the Nordic finance industry. Sweden’s oldest bank, which is dealing with the fallout of a money laundering scandal that… Read More
10th July 2019
Danske Bank (DANSKE.CO), entangled in a massive money laundering scandals, has appointed Simon Kingsbury as head of surveillance and investigation from HSBC (HSBA.L), the bank’s head of compliance Philippe Vollot wrote on LinkedIn. Kingsbury, who will join Danske Bank on July 15, will report to Vollot… Read More
5th July 2019
A Danske Bank whistleblower has requested a criminal investigation into the Danish lender for allegedly seeking to “discredit” him through an internal probe, the Financial Times reported Thursday.  The US-based attorney for Howard Wilkinson told the newspaper that he had contacted Danish prosecutors on Wednesday requesting a probe… Read More
25th June 2019
Banks in Estonia have not yet plugged all the gaps in their money laundering controls, the Baltic state’s regulator told Reuters, pledging to maintain a clampdown in the country at the center of one of Europe’s biggest financial scandals. Estonia’s efforts to tighten money laundering controls at its banks follows… Read More
18th June 2019
Swedbank said on Monday it had suspended the CEO and CFO of its Estonian business with immediate effect following an investigation into compliance with money-laundering rules at the bank. Sweden’s oldest bank has gone through a turbulent period since being linked to money laundering at Danske Bank, which has said… Read More
17th June 2019
Estonian police said they held three employees of local bank Tallinna Aripank for questioning this week for 48 hours as part of an investigation into suspected money laundering and bribery. Estonia’s bank system has been in the spotlight after Denmark’s largest lender, Danske Bank, said last year more than 200… Read More
17th June 2019
Europe’s Baltic states are at risk from further Russian money laundering, a top European police official said after several big banks were hit by scandals centred on the region. Pedro Felicio, who is responsible for fighting money laundering at European police agency Europol, told Reuters that “huge inflows of criminal… Read More
12th June 2019
Finnish police have declined to investigate an allegation of money laundering at Nordea made by anti-corruption campaigner Bill Browder’s Hermitage Capital, citing lack of jurisdiction and the statute of limitations. Hermitage Capital Management Ltd requested an investigation last October into transfers of funds to corporate customer accounts at Nordea from… Read More
7th June 2019
The European Commission on Wednesday called on six EU member-states to bolster their anti-money laundering (AML) supervisory and enforcement efforts in light of recent bank scandals and the risks of crypto-assets. The requests highlight recent efforts by Denmark, Estonia, Latvia, Bulgaria, Sweden and Malta… Read More
5th June 2019
The Estonian government intends to move forward with a raft of measures that will seek to make the Baltic nation, long at the center of Europe’s largest money laundering scandal, a far less appealing destination for financial crooks. In a bid to repair its reputation following the disclosure last year that… Read More
4th June 2019
Danske Bank, which is trying to recover from a major money laundering scandal, has agreed to sell its portfolio of Estonian private loans to LHV Pank in a deal worth 410 million euros ($458.3 million), Estonia’s LHV said on Monday. Danske Bank has already said it will pull out of… Read More