Posts tagged as laundering

Lithuania ‘cooperating’ with Denmark in Danske Bank money laundering investigation

Friday, September 25, 2020

Lithuania’s central bank says it is cooperating with Danish law enforcement in investigation into potential money laundering at Danske Bank’s operations in the country. “We are closely watching all information related to the possible participation of financial institutions in Lithunia in money laundering” and are “cooperating with the Danish colleagues”, the central bank told BNS. As part of FinCEN banking leaks, the International Consortium of Investigative Journalists (ICIJ) has revealed…

Comprehensive approach is necessary to fight money laundering in EU

Thursday, July 9, 2020

The European Commission has made a clear commitment to deliver a comprehensive approach to fighting money laundering and terrorism financing, to better protect the European Union economy and financial system in the future, the European Commission’s Executive Vice-President Valdis Dombrovskis said at the European Parliament plenary debate on preventing money laundering and terrorist financing on July 8th. “The Commission fully shares the European Parliament’s view that it is high time…

Latvia uncovers alleged international plastic granule money laundering scheme

Thursday, April 9, 2020

Criminal proceedings have been brought against a group of persons who are accused of attempting to legalize more than seven million euros of illicit funds using several companies and shady transactions, according to the State Revenue Service (VID) on April 9. The proceedings include a pre-trial investigation of the organized legalization scheme. A string of investigative procedures uncovered several fictitious businesses selling overpriced biopolymer granules to legalize the illicit funds…

Report: Swedbank Latvia “actively pursued high-risk customers”

Monday, March 23, 2020

Swedbank, the largest retail bank in the Baltic states, has published a report by law firm Clifford Chance, which the bank hired in February 2019 to conduct an investigation of Swedbank’s anti-money laundering work. Swedbank has now made the report available at  www.swedbank.com . The investigation includes customers, transactions and activities from 2007 through March 2019 and how the bank has handled internal and external information disclosures. “Clifford Chance reports that Swedbank Estonia…

Five detained over laundering more than €627,000

Tuesday, March 19, 2019

Latvia’s State Police have detained five people over possibly laundering more than €627,000, with four kept behind bars during investigation, the police said March 18. The police got on the trail of the money launderers in late December as they were investigating unlawful use of third parties’ payment data. It became clear to the police that money laundering is involved, and that the five people involved had been doing it for several…

Latvia links to massive new money-laundering investigation

Tuesday, March 5, 2019

A new report by the Organized Crime and Corruption Reporting Project (OCCRP) lays bare yet another multi-million dollar money laundering operation involving Russian money. Dubbed The Troika Laundromat, OCCRP describes the operation as “a unique new Laundromat, created by a prestigious financial institution. This time, the work shows not only its beneficiaries but also exposes its mastermind and operator — Troika Dialog, once Russia’s largest private investment bank. “The scheme was…