Home AML AML Basics The EU is losing its battle against money laundering

The EU is losing its battle against money laundering

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First Latvia, now Estonia. Reports that Danske Bank, Denmark’s largest lender, may have laundered up to $8.3bn through its Estonian subsidiary — following Latvia’s banking scandals this year — have highlighted anew the Baltic republics’ reputation as conduits for dirty money. They point, too, to a more fundamental issue. Europe is trying to fight an inherently international problem with a patchwork of national authorities.