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Friday 24.01.2020 | Name days: Krišs, Eglons, Ksenija

Europol: Risks of Russian money laundering still exist in Baltics

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In the Baltic states, there still exist risks for the laundering of money from Russia, said official from European police agency Europol, Pedro Felicio, who works on anti-money laundering measures in the body.

«Billions of criminal money come from the Russian economy,» stressed Felicio and warned that scandals with money of an illegal origin could reoccur in Baltic banks, Latvian news agency LETA reports.

He added that the problem is amplified by «zero cooperation from the side of Russia».

Situation better, but some banks vulnerable

The Europol representative for anti-money laundering efforts recognised that the situation had improved, but shortcomings still existed, in the Baltic states in particular.

«Some banks are very unprotected against money-laundering activities, especially concerning [funds] of a Russian origin. There are improvements, but the situation is not close to being solved,» evaluated the Europol representative.

«Dirty money» ends up being invested elsewhere, yet the Baltic states are «the frontline» for money laundering.


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