Antoine Bouveret

Maksym Markevych

Ms. Grace Jackson

Pierre Bardin

Alexander S Malden

Santiago Texidor Mora

Indulekha Thomas

In their efforts to strengthen the effectiveness of Anti-Money Laundering/Countering the Financing of Terrorism Frameworks across the Nordic-Baltic Region (Denmark, Estonia, Finland, Iceland, Latvia, Lithuania, Norway, and Sweden), the Governors of the Nordic-Baltic Central Banks reached out to the IMF to request technical assistance. The request stems from various international money laundering banking scandals (ABLV, Danske Bank, Nordea, Swedbank), involving cross-border payments by non-residents that exposed financial integrity risks in the financial sector of the region, attracting international scrutiny on the level of non-resident Money Laundering/Terrorist Financing ML/TF risks and highlighting the vulnerabilities related to AML/CFT risk-based supervision of banks in the region. The flagship project relied on a novel methodology to leverage data analysis to understand ML/TF threats and vulnerabilities and their potential impact on financial stability, and developed country and regional recommendations. Notably, the project involved an analysis of (i)potentially high-risk financial flows to and from the region; (ii) the AML/CFT domestic and regional supervisory landscape related to banks and virtual assets; and (iii) the potential implications of financial integrity shocks on financial stability.

Nordic-Baltic Technical Assistance Project – Financial Flows Analysis, AML/CFT Supervision, and Financial Stability

Project Summary:

Ms.Dora Benedek

Christine J. Richmond

Bobana Cegar

Mr.Peter Dohlman

Michelle Hassine

Beata Jajko

Piotr Kopyrski

Mr.Jacques A Miniane

The Central, Eastern, and South Eastern European (CESEE) region is ripe for a reassessment of the role of the state in economic activity. The rapid income convergence with Western Europe of the early 2000s was not always equally shared across society, and it has now slowed dramatically in many countries of the region.

Reassessing the Role of State-Owned Enterprises in Central, Eastern and Southeastern Europe

Maksym Markevych

Books

Your next favorite book is out there