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
30th May 2019
Estonia’s financial supervisor on Tuesday said it had revoked the operating licence of payment services provider GFC Good Finance Company AS over its failure to comply with the country’s anti-money laundering (AML) laws. The Tallinn-based company had in recent years “seriously breached” its legal requirements and repeatedly failed to address… Read More
10th May 2019
Loomis AB said it would investigate allegations it played a role in a Danish money laundering scandal, the Swedish cash-handling company said on Thursday. At its annual general meeting a day earlier a journalist from Denmark’s TV2 alleged that Loomis was implicated because it had cooperated with a foreign exchange… Read More
9th May 2019
Danish prosecutors have charged 10 former Danske Bank managers over their suspected involvement in one of the world’s biggest money laundering scandals, newspaper Berlingske reported on Wednesday, citing unidentified sources. The charges relate to a case involving some 200 billion euros ($224 billion) of suspicious transactions that passed through Danske… Read More
8th May 2019
Danish prosecutors have charged Thomas Borgen, former chief executive of Danske Bank, over his involvement in one of the world’s biggest money laundering scandals, newspaper Borsen reported on Tuesday, citing his lawyer. Borgen is the first person to be charged in a case that involves suspicious transactions of some 200… Read More