Estonia On The Defensive As EBA Sharpens Its Sword

Estonian authorities have defended their role in recent money laundering scandals as EU figures continue to press for greater centralisation of power as a response to perceived failings by member states.

The Baltic state has been embroiled in controversy after revelations that up to €200bn may have been laundered through the local branch of Danske Bank.

On Thursday, the head of the anti-money laundering (AML) division of Estonia’s financial regulator sought to defend his agency’s record, saying that blame should be apportioned across other regulators and jurisdictions in recognition of the international nature of illicit financial flows.

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