The Baltic States and Russian Money Laundering
The Baltic States and Russian Money Laundering

Author(s): Kinga Raś
Subject(s): International relations/trade, Criminology, Financial Markets, Geopolitics, Corruption - Transparency - Anti-Corruption
Published by: PISM Polski Instytut Spraw Międzynarodowych
Keywords: Baltic States; money laundering; financial scandals; Estonia; Latvia; Russian Federation; banking sector;
Summary/Abstract: Financial scandals in Estonia and Latvia confirm that Russia uses the banking sectors of these countries for its own interests. Through suspicious transactions, the funds are laundered and can be used, among others, for political or economic lobbying. The scandals have exposed the weaknesses and vulnerabilities of the banking sector of Latvia and Estonia but also have motivated them and the other Member States to implement effective remedies, including at the EU level.

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