20th December 2019
The Estonian government on Thursday endorsed and forwarded to the Riigikogu a bill to amend the Money Laundering and Terrorist Financing Prevention Act that would substantially complement existing possibilities for the prevention of money laundering and increase protection for whistle-blowers. The bill would set out a legislative framework for the establishment… Read More
20th December 2019
The Swedish Financial Supervisory Authority (FSA) is opening a sanction case related to both its investigation into Skandinaviska Enskilda Banken AB’s (SEB) governance, as well as a check of anti-money laundering (AML) measures the bank’s subsidiaries in the Baltic States use. The decision on opening the sanction case is itself… Read More
12th December 2019
Officials of Estonia’s Central Criminal Police on Monday detained Tiiu Jarviste and two employees of GFC Good Finance Company AS, a business belonging to Jarviste, as suspects in money laundering. Jarviste, 56, has also been declared suspect in attempted embezzlement. Jarviste, Andrii Danchak, 36, and a third suspect identified by… Read More
10th December 2019
Swedbank (SWEDa.ST) said on Monday its chief risk officer was leaving as the Swedish bank’s new CEO revamps its structure to regain customer trust after a money laundering scandal sent its shares down 40% in the past year. Helo Meigas will leave the bank along with head of… Read More
3rd December 2019
The U.S. Department of Justice has in recent weeks stepped up its investigation into Deutsche Bank’s role in the 200 billion euro ($220 billion) Danske Bank money laundering scandal, four people familiar with the inquiry told Reuters. One source said the DoJ’s new line of inquiry is whether Deutsche (… Read More
2nd December 2019
Not all money laundering scandals are equal. When the world learned that billions in dirty funds had flowed through Danske Bank A/S and Swedbank AB, it proved disastrous for the two lenders. But when SEB AB was accused of similar offenses, people were more forgiving. The difference can be traced… Read More
29th November 2019
The International Monetary Fund will examine efforts by Nordic banks and regulators to stop money laundering in the region and the Baltic countries, Sweden’s central bank said on Thursday, following a string of alleged lapses. Nordic banks have been hit by a steady stream of allegations over failures to combat… Read More
28th November 2019
The Wallenberg family has jumped to the defense of its bank, SEB AB, after it was accused of enabling Russian money laundering. Shares in SEB rose more than 4% on Wednesday after the Wallenbergs led investors in brushing off a report by Swedish state broadcaster SVT, which said the bank… Read More
21st November 2019
Russian oligarch Mikhail Abyzov built a complex network of offshore companies that were used to move a fortune out of Russia, according to a Swedbank internal draft report obtained by OCCRP and its Swedish partner, national public TV channel Sveriges Television (SVT). Today he’s charged with defrauding the Russian government… Read More
20th November 2019
SEB AB said it’s terminated business with the vast majority of customers identified by Swedish public broadcaster SVT in an investigative piece on money laundering. The bank has compared the 194 names provided by SVT with its own analysis and found that the clients had “previously been handled,” the… Read More