Monday, April 19, 2021

Nordic, Baltic regulator boost anti-money laundering cooperation

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Nordic and Baltic financial regulators said on Wednesday that they would establish a permanent working group to boost joint efforts to combat money laundering and the financing of terrorism.

The establishment of the new group, which will include regulators in Denmark, Estonia, Finland, Iceland, Latvia, Lithuania, Norway and Sweden, follows a number of high-profile money laundering scandals in the region.

“The group will maintain regular contact and exchange experiences and information with the goal of being more effective in the prevention of money laundering,” Sweden’s Financial Supervisory Authority said in a statement.

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“Going forward, anti-money laundering supervision will be more coordinated in the Nordic-Baltic region,” it said.

Denmark’s Danske Bank said last year that 200 billion euros ($220 billion) of suspicious funds had moved through its Estonian branch between 2007 and 2015. Allegations have also linked accounts at Swedbank, Nordea and SEB with suspicious transactions.

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