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IMF Urges Tools to Monitor Nordic, Baltic Cross-Border Payments
Nordic and Baltic governments should consider mechanisms to keep track of their cross-border financial flows to better gauge risks following money laundering scandals over the past years, according to a report by the International Monetary Fund staff. The advice comes as Nordic banks are wrapping up a string of dirty money scandals dating from before the pandemic. Danske Bank A/S agreed last year to pay $2 billion to end a long-running US probe into money laundering through its Estonian branch while Swedbank AB was fined a record 4 billion kronor ($360 million) by Swedish authorities in 2020 for failing to put a stop ... (full story)