Banks, Estonia, Financial Services

International Internet Magazine. Baltic States news & analytics Monday, 25.05.2020, 16:31

Estonia: Tallinn Business Bank suspected of money laundering changes name

BC, Tallinn, 02.07.2019.Print version
Tallinn Business Bank, three employees of which were detained on suspicions of money laundering less that a month ago, has changed its business name to AS TBB pank, according to the Postimees reports.

"We inform you that Tallinn Business Bank's new business name is AS TBB pank," the bank said on its website.

Officers of the Central Criminal Police on June 11 detained for 48 hours three employees of Tallinn Business Bank -- Mait Kaselo, head of the bank's anti money laundering department, Julia Litvak, head of customer service, and Aare Teder, head of the bank's administration -- one of whom is suspected of money laundering and the other two of accepting a bribe and money laundering.

Public Prosecutor Marek Vahing leading the criminal procedure said at the time that the three persons suspected of money laundering were detained and searches were conducted at their places of residence and employment and existing evidence suggests that two suspects accepted bribes this year and last year. 

"During further criminal proceedings, we will specify the time as well as scope of the committing of the crimes," Vahing said.

The investigation is being carried out by the office for the investigation of corruption crimes of the Central Criminal Police and led by the Office of the Prosecutor General.

The major owner of Tallinn Business Bank is Andrei Zukov.

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