Estonian central bank says cross-border transfers not bigger than other countries'
Published on: Friday 05 October 2018
Estonia's central bank said on Friday that the value of cross-border transactions made by customers of domestic banks was not exceptionally high in an international perspective amid an unfolding crisis over possible money laundering. The European Union member country of just 1.3 million people has been rocked by revelations that banks there laundered money from Russia, Moldova and Azerbaijan via non-resident accounts. "The value of international payments initiated in Estonian banks in 2008-2015 was 3.1 times the GDP of Estonia, which is a similar ratio to those of Belgium, France and Finland, and behind that of Germany for example," the central bank said in a statement.
News source: https://uk.sports.yahoo.com/news/estonian-central-bank-says-cross-border-transfers-not-131207319--sector.html
