Banking Law News

Estonian PM Says Focus on Fighting Financial Crime Carries Risks

Jan. 16, 2020, 11:22 AM

The prime minister of Estonia said efforts to fight money laundering at the biggest banks in his country risk hurting the local business environment.

Speaking to reporters in Tallinn, Prime Minister Juri Ratas said Swedbank AB and SEB AB, which dominate the Baltic region, should avoid “going to the other extreme” in their measures to fight the flow of suspicious funds.

Ratas wants to meet with the executives of the banks when he’s in Sweden later this week, to deliver the message in person.

Estonia, a European Union and euro member of 1.3 million people, is still reeling after...

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