Featured Lithuania

The Vienna Bank Job

For years, banks in three Eastern European countries were stripped of assets by their owners using a blunt but efficient scheme made possible by Meinl Bank, a venerable Austrian financial institution that lost its license last week. Hundreds of millions of euros were siphoned out of Ukraine, Latvia and Lithuania,… Read More

IMF asked to evaluate Nordic and Baltic money laundering prevention

The International Monetary Fund (IMF) is asked to conduct an independent evaluation of money laundering prevention in the Nordic and Baltic region, a member of the Bank of Lithuania’s board said Wednesday. “A regional monetary prevention evaluation will be performed,” Marius Jurgilas told members of the Seimas Committee on Budget… Read More

New Information Emerges Regarding Scale of Troika Laundromat

Troika Laundromat: inside Europe’s latest money laundering scandal Reports of a new money laundering scheme, the Troika Laundromat, highlight the brazen use of illegitimate funds within the world of the ultra-wealthy Like a vast, corruptive beast, money laundering has loomed large over Europe in recent months. Scandal after scandal has… 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
23rd May 2019
AP — The European Union’s police agency says an international law enforcement operation has smashed an organized crime gang that earned hundreds of millions of euros in drug and cigarette trafficking, assassinations and money laundering. Europol said Wednesday that more than 450 police and customs officers in Spain, the United… Read More
2nd May 2019
Two of Europe’s largest banks on Tuesday blamed Russian money laundering scandals for their lackluster performances in the first quarter of 2019, and promised to do more to prevent compliance lapses going forward. Helsinki-based Nordea Bank said in its Q1 results that it had set aside €95 million to account… Read More
15th April 2019
European lawmakers are urging financial institutions and governments to address dozens of legal and supervisory shortcomings they say contributed to the proliferation of massive money laundering schemes in recent years. In a resolution adopted Thursday, the Council of Europe’s Parliamentary Assembly said that recent money laundering schemes linked to… Read More
28th January 2019
Lithuania has taken extra measures to prevent money-laundering after bank scandals in Latvia and Estonia which have harmed its reputation, its central bank Governor Vitas Vasiliauskas said. The euro-zone member has so far avoided any major financial scandals of its own but felt it needed to improve its safeguards, Vasiliauskas,… Read More
20th November 2017
By Rapsi News Lithuanian Seimas has passed a bill on sanctions against persons, who are believed to be involved in the death of Hermitage Capital auditor Sergey Magnitsky on November 16, 2009, the resolution of the country’s parliament reads. Lithuania is a fifth country to adopt an act related to… Read More
13th November 2017
By Scilla Alecci, ICIJ From film stars to famous manga artists, journalists working on the Paradise Papers investigation have followed the money to cities where the streets do have names – and where local authorities, in at least one case, were asking questions. Files from the Maltese corporate registry revealed… Read More
8th August 2017
Nigerian citizens living in Lithuania laundered money via the state-run Lietuvos Pastas (Lithuanian Post), which sacked its CEO Lina Minderiene last Friday, the Financial Crimes Investigation Service (FNTT) confirmed to BNS, cites LETA. Ruta Andriuskaite, spokeswoman for FNTT, told BNS that the probe into money laundering by the Nigerian citizens involved Lietuvos Pastas. Read More
30th August 2016
EU sanctions on Russia over the conflict in Ukraine should stay in place as long the situation on the ground does not improve, Lithuania's foreign minister said on Monday, dismissing calls from EU's rotating president Slovakia for them to be lifted, according to Reuters. Read More