Estonian and Lithuanian officials said at an industry conference in Tallinn, Estonia, on Wednesday that their crackdowns on cryptocurrency have reduced their nations' exposure to criminal proceeds, and separately flagged schemes by Russia to evade Western sanctions.
Latvian authorities and financial institutions have failed to protect their country from abuse by foreign money launderers, sanctions evaders and terrorist financiers, an intergovernmental group claimed Thursday.
The Bank of Lithuania has begun taking a closer look at the fintech sector's compliance with anti-money laundering rules and ramping up enforcement.
How do you supervise the dissolution of a dirty bank when your country is under intense international scrutiny for serving as a harbor and funnel for tens of billions of dollars in illicit wealth for decades? That is the question Latvian authorities must answer with ABLV Bank.
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