Posted on Monday December 17th, 2018 by Ragnar Sepp

TBB is under pressure

Estonian business newspaper Äripäev (Business Day), informed that Financial Inspection started investigation in respect of Tallinn Business Bank.

Details of this investigation stay unclear, though according to newspaper sources the prescription made by Financial Inspection to TBB is even more serious then it was to Verso Bank.

Reasons for investigation are: insufficient counteraction to money laundering, transactions with Russian capital and transactions with companies affiliated to owners of the bank.

As an option TBB may change management and owners, and start providing more services to clients within Estonia, informs Äripäev.