Featured Estonia

Estonia to Stop Lobbying U.S. for Share of Potential Danske Fine

Estonia will no longer lobby the U.S. to get a share of any potential fine imposed on Danske Bank A/S in connection with an ongoing money laundering investigation. Prime Minister Kaja Kallas, who took office last month, said Estonia now plans to end a previous arrangement… Read More

Police uncover money laundering via digital currency machines in Riga’s shopping centers

Investigators from the State Police have uncovered money laundering via digital currency machines (DCM) installed in Riga’s shopping centers and detained a Polish citizen in connection with the crime, LETA was told at the State Police. Since last November the cybercrime unit of the State Police has been investigating a… Read More

Jüri Ratas resigns as Estonian prime minister amid corruption scandal

Jüri Ratas resigned as prime minister of Estonia and head of the Centre Party on Wednesday, amid allegations of corruption against his party. On Tuesday, the Estonian Public Prosecutor’s Office announced it suspected the Centre Party and five individuals, including its Secretary-General Mihhail Korb, were involved… Read More
8th January 2021
Danish prosecutors said on Thursday they had dropped charges against six former Danske Bank employees as part of an investigation into the bank’s involvement in one of the world’s biggest money laundering scandals. Danske Bank is under investigation in several countries, including the United States, over some 200 billion euros… Read More
6th January 2021
The trial of entrepreneur Tiiu Jarviste and her two fellow accused in a large-scale money laundering case began at the Harju County Court on Tuesday with all of the accused pleading not guilty to the charges. Facing trial in addition to Jarviste, 56, are also Aleksei Dremov, 40, and Andrii… Read More
21st December 2020
Illicit funds from Azerbaijan were used by a London couple to fly female models to Ibiza by private jet and pay school fees, a court has been told in a case being conducted under a veil of secrecy. The National Crime Agency alleges that the spending came from nearly £14 million of corrupt… Read More
21st December 2020
Danske Bank A/S probably didn’t breach U.S. sanctions when its Estonian unit handled billions of dollars in suspicious funds, meaning the lender could be facing a smaller fine than previously feared. Denmark’s biggest bank has been told by the U.S. Department of the Treasury’s Office of Foreign Assets Control… Read More
17th December 2020
One of the countries lauded as being among the most crypto friendly in the European Union revoked the licenses of more than 1,000 crypto firms in 2020. According to news outlet Postimees, Estonia’s Financial Intelligence Unit, or FIU, has revoked the licenses of roughly 70% of virtual currency companies… Read More
16th December 2020
The Department of Justice (DOJ) and FBI are investigating SEB, Swedbank and Danske Bank over possible breaches of U.S. anti-money laundering regulations and fraud, Swedish newspaper Dagens Industri reported on Tuesday, sending the banks’ shares lower. Sweden had received requests for help from U.S. authorities investigating a Baltic money-laundering scandal… Read More
13th November 2020
German Lillevali can thank the coronavirus for getting out of an immigration facility in the California desert, but his troubles are far from over. The former financier had changed his name and left Moscow two years ago owing clients millions before being detained in the U.S. for overstaying his visa. Read More
9th November 2020
Former Swedbank Baltic CEO Priit Perens told daily Eesti Päevaleht (EPL) in an interview that he and his colleagues never consciously laundered money, and that the heads of Estonian banks did not foresee changes in regulations and society. “… Expectations of banks have changed so much. As Erkki Raasuke (current… Read More
3rd November 2020
British entrepreneurs are flocking to become “e-residents” of Estonia to take advantage of company formation rules and avoid the economic fallout from leaving the European Union. The scheme, which was set up in 2014, allows non-Estonians access to services such as company formation, banking and taxation. Since then, 3,372 British… Read More
28th October 2020
Last month, The Times of Israel reported that Israel’s largest aerospace manufacturer, Israel Aerospace Industries, transferred at least $155 million in 2012-2014 to two companies that were reportedly used as a secret slush fund for Azerbaijan’s kleptocratic elite. A new report published earlier this month on Russian… Read More