In the past few years, a number of European banks have been implicated in money laundering scandals in countries such as Cyprus, Malta, Latvia, and, most recently, Scandinavia. Although European and international voices are putting pressure to take further action by all including the banks against this, the issue continues to emerge in the continent. In this short article, we attempt to explain this trend and how might it be resolved.
Topic:
Crime, Economics, Finance, Business, Financial Crimes, Banks, and Currency
Political Geography:
Russia, Soviet Union, Latvia, Scandinavia, Cyprus, and Malta