aA
Lithuanian Finance Minister Vilius Sapoka says the topic of alleged money laundering via banks often starts to make headlines in the run-up to elections.
Lithuanian finmin: money laundering stories tend to surface in run-up to elections
© DELFI / Andrius Ufartas

"If we look at the period when these stories surface, there are certain coincidences. These topics emerged in the run-up to elections in Latvia, in Estonia, in Sweden and in Lithuania. It may be a coincidence, but it may be no coincidence," he told members of the Liberal Movement's political group in the Seimas when commenting on the current situation in the financial market.

The minister also underlined that all these countries are in a different situation when it comes to alleged money laundering via banks.

"The situation in Lithuania is not comparable to that in Estonia and Latvia. (...) For example, non-resident deposits used to account for almost 50 percent in Latvia, a third in Estonia and 2-3 percent in Lithuania. But this happened a decade ago, when the prevention requirements were incomparable with the current ones," he said.

Sapoka told the lawmakers that officials from various agencies have met recently "to discuss strategic communication" regarding this issue.

"We should be very careful in our communication here," he added.

The latest money laundering scandal was triggered by suspicions that around 200 billion euros might have been funneled via Danske Bank's Estonian unit over a period of several years.

The scandal widened in February to include Sweden's Swedbank and Finland's Nordea. The Organized Crime and Corruption Reporting Project (OCCRP) has reported about a money laundering scheme centering around Lithuania's now-collapsed Ukio Bankas.

Lithuania elected new municipal councils in March and will hold presidential and European Parliament elections in May.

BNS
It is prohibited to copy and republish the text of this publication without a written permission from UAB „BNS“.

Klaipėda FEZ joins the civic air quality monitoring initiative

Klaipėda Free Economic Zone (FEZ) has installed the air monitoring hardware and software, integrated...

Lithuanian Airports review: the year 2020 of the biggest challenges for aviation

In 2020, 1.8 million people travelled through all three Lithuanian Airports, which is 72% less...

Paysera expands to Spain: company established, to be followed by a client service network

The Lithuanian-born e-payment network Paysera is expanding to Spain, where the company Paysera España...

Novaturas to relaunch trips from Baltics to Tenerife, Egypt in February

Novaturas, a leading Baltic tour operator, is set to relaunch charter flights to resorts in Tenerife...

Ryanair halts flights from Vilnius

Ireland's budget carrier is temporarily suspending all flights to and from Vilnius and Palanga due to...

Top news

Nauseda: EC chief assures Lithuania it can vaccinate 70 pct of people by summer

President Gitanas Nauseda says European Commission President Ursula von der Leyen has assured him that...

Another 3 Belarusians to ask Lithuanian law-enforcement to probe regime violence

Another three Belarusians are planning to turn to Lithuanian law-enforcement bodies in the near...

Border guards warn: Latvia requires negative corona test from travelers

People travelling to Latvia must produce a negative COVID-19 test taken within 72 hours prior to their...

Caleb Melby, Tom Maloney and Max Abelson | D+

Trump’s shambolic empire faces long odds for one more comeback

On the day Donald Trump was getting impeached in Washington, the lobby of his New York tower at 40...

1032 new COVID-19 cases

On Thursday, 1 032 new COVID-19 cases were detected in Lithuania. Overall, the country has already...