Featured Lithuania

Lithuania unveils strict new KYC rules for gaming operators

Lithuania’s authorities have published a series of strict new know-your-customer guidelines for gaming operators following accusations that the sector is an easy target for money laundering activities. The Gambling Supervision Service, which works under Lithuania’s Ministry of Finance, said the guidelines outline which factors should be taken into account by… Read More

Merkel faces calls for new Russia sanctions after Putin opponent’s poisoning

Chancellor Angela Merkel said tests showed “unequivocally” that Russian opposition leader Alexey Navalny was poisoned by a military-grade novichok nerve agent, dramatically escalating tensions with the Kremlin and sending the ruble tumbling. Germany will consult with European Union and NATO allies to formulate an appropriate response over the… Read More

The Quiet Man in Stockholm Who Laundered China’s Oil Money for Iran

By Martin Young, Kelly Bloss, Šarūnas Černiauskas, Jason Papakheli, Aparna Surendra, Eric Barrett, and Roshanak Taghavi (OCCRP) and Joachim Dyfvermark and Linda Larsson Kakuli (SVT) OCCRP –By all outward appearances, Hatam Khatoun Nema was a small-time money changer working from a nondescript office in Järfälla, a workaday Stockholm suburb. Read More
6th August 2020
Lithuania plans to establish an anti-money laundering competence center as the Nordic and Baltic region has been hit by several money laundering scandals in recent years. The new center’s operation would be funded from contributions of the central Bank of Lithuania and commercial banks. The Finance Ministry would represent the… Read More
2nd June 2020
OCCRP—When Eldar Mahmudov fell out of favour with Azerbaijan’s government, he fell hard. In October 2015, the country’s national security minister was dismissed from his powerful role by a presidential order. Within days, wild stories peppered local media outlets about raids on his villa, where police discovered glass jars… Read More
29th May 2020
Lithuania’s land-based casino industry faces a “very high” risk from money laundering, while the remote gambling sector faces a high risk, according to a risk assessment carried out by the country’s government. Risk levels for each aspect of Lithuania’s gambling industry were determined through “data from a variety of international… Read More
26th March 2020
Sweden’s financial supervisory authority has delayed the conclusion of an anti-money laundering assessment of Skandinaviska Enskilda Banken AB due to the coronavirus pandemic. The assessment of the Swedish bank was expected to conclude in April, but the Swedish FSA, known as the Finansinspektionen, said Wednesday that it was now… Read More
28th February 2020
The Danish bankers’ union has lambasted Danske Bank A/S after its supervisory board sought to raise its own pay shortly before the lender announced hundreds of job cuts. Denmark’s biggest bank, which is dealing with a spike in compliance costs amid investigations into money laundering, said on Thursday it’s getting… Read More
25th February 2020
Digital bank Revolut mistakenly froze the accounts of a French company, trapping thousands of euros, in a blunder that has raised questions over its compliance processes as it grows at breakneck speed. Priorité Energie, which helps low-income families in Paris to insulate their homes under a government initiative, was told… Read More
3rd February 2020
A just-concluded pre-trial investigation of Vladimir Romanov, the former owner of Lithuania‘s Ukio bank suspected of looting it for millions of euros, hinged on a key episode detailed in OCCRP’s 2018 account of leaked information in the Paradise Papers. Ukio bank collapsed abruptly in 2013, as the Lithuanian… Read More
17th January 2020
The authorities will be looking into reports that banks in Malta were used by the Italian mafia in a massive operation in Sicily that defrauded the European Union of millions of euros in funds for farmers, a spokesman for the Foreign Ministry said. The public prosecutor in Messina said on… Read More
23rd December 2019
A new front is opening up in Europe’s battle with money laundering. After dirty-cash scandals involving hundreds of billions of euros rocked some of the continent’s biggest banks, the Baltic region — where one of the the biggest cases yet erupted — has begun a fresh clampdown. This time, the… 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