Danske Case May Turn Out to Be Hybrid Warfare, Estonia Says
(Bloomberg) -- One of Europe’s largest money-laundering scandals centered around the Estonian branch of Danske Bank A/S could be a type of hybrid warfare waged by the Baltic nation’s former Soviet master Russia.
Estonia’s definition of money laundering should change, because it doesn’t allow for a proper response to laundering "condoned or organized by an unfriendly third country,” the government said in a report published Thursday. It cited research "showing Russia’s new tools for increasing tensions in the Baltic Sea region.”
“This kind of laundering should be considered one form of a hybrid threat,” said the report from the state commission on preventing money laundering and terrorism financing. “Money laundering abetted or arranged by foreign country could be a part of acts affecting free elections or a cyber attack.”
©2018 Bloomberg L.P.