Explainer: Europe’s money laundering scandal
04 Apr 2019

The largest ever money laundering scandal in Europe is rippling through the region’s banks.

It began in the Baltics and has engulfed several Nordic lenders, notably Denmark’s Danske and Sweden’s Swedbank, who had large Baltic operations.

Here are some facts about Europe’s problems.

HOW DID THE CURRENT SCANDAL EMERGE?

The Baltics’ proximity to Russia has traditionally made them vulnerable to illegal financial flows from their neighbor.

U.S. investigators raised concerns about some of the region’s banks early last year, prompting domestic and European watchdogs to investigate.

By Francesco Guarascio, Reuters, 4 April 2019

Read more at Reuters

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