The End of European Money-Laundering Scandals, or Just the Beginning?

As recent money-laundering scandals move from the Baltics to Scandinavia, who will be next?


By Sven Stumbauer, Globally Recognized Financial-Crimes Expert




The beginning of 2019 and most of 2018 have been marked by a significant uptick in money-laundering scandals. More surprising is that recent money-laundering scandals involve financial institutions and jurisdictions that have generally been considered of lower risk both for money laundering as well as corruption, which highlights the need to go beyond popular measures of risk and consider a deeper dive in identifying money-laundering and regulatory risks.

Missed warnings

Even more surprising is the fact that it has been more than three years since the Panama Papers scandal made headlines, and offshore secrecy and the use of offshore structures—which dominated the banking clientele in the Baltics, those so-called “non-resident” clients—should have been at the forefront of all board of directors at

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