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Wednesday 19.09.2018 | Name days: Verners, Muntis
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11 billion euros legalised via Estonia, police establishes

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Banks in Estonia have experienced the laundering of over 11 billion euros between 2012 and 2016, financial investigators in Estonia have stated.

Canadian-British news agency Reuters reported on Friday, May 25, that Estonia’s police Financial Intelligence Unit (FIU) stated that besides more than USD 6 billion (EUR 5.1 billion) laundered via Estonian banks in schemes discovered by national financial investigators, a further unreported EUR 7.3 billion was moved via Estonian banks by the sale of Russian stocks and bonds.

«In 2012, more than 7.3 billion euros in securities from Russia were processed through the Estonian financial system. The proceeds were transferred to dozens of jurisdictions and thousands of companies for various goods and services,» the FIU concluded in its annual report.

To compare, in 2012, Estonian economy was valued at 17.9 billion euros.

The financial police in the Baltic country also cautioned that more attempts to launder money could be expected in 2018.


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