Europol highlights Russian money as biggest laundering threat
John O’Donnell, 13 July 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 centered on the region.
Pedro Felicio, who is responsible for fighting money laundering at European police agency Europol, told Reuters that “huge inflows of criminal money” are mainly coming into Europe from Russia and China.
Russian money is alleged to be at the heart of multi-billion dollar laundering rackets that engulfed Danske Bank, Denmark’s largest lender and Sweden’s Swedbank. Continue reading “Article: Europol highlights Russian money as biggest laundering threat”
THE FALLOUT FROM RUSSIAN MONEY LAUNDERING CONTINUES TO GROW FOR EUROPEAN BANKS
Nicholas Larsen, International Banker, 20 May 2019
On April 5, Lars Idermark resigned from his position as the chairman of Swedbank, headquartered in Sweden. Idermark stepped down from his position only a week after the chief executive officer, and previously the supervisor of Swedbank operations in the Baltic states, Birgitte Bonnesen, was fired. The moves come amid sweeping allegations that Sweden’s oldest bank was involved in laundering billions of dollars’ worth of Russian money. In particular, the lender’s Baltic units have been named as being complicit in handling illegal funds from Russia as well as other smaller former Soviet countries. Continue reading “Article: THE FALLOUT FROM RUSSIAN MONEY LAUNDERING CONTINUES TO GROW FOR EUROPEAN BANKS”
Factbox: European banks hit by Russian money laundering scandal
Reuters Staff, 08 March 2019
Several European banks are facing allegations of being involved in a Baltic money laundering scandal and failing to prevent tainted Russian money from flowing through their branches across the world. Continue reading “Article: Factbox: European banks hit by Russian money laundering scandal”