Financial Supervisory Authority (Estonia)

The Estonian Financial Supervisory Authority (FI) (Estonian: Finantsinspektsioon) is the financial supervision and crisis resolution authority of the government of Estonia, responsible for the regulation of financial markets in Estonia. It works on behalf of the state of Estonia and is independent in its decision-making.[1][2]

Estonian Financial Supervisory Authority
Finantsinspektsioon
Agency overview
FormedJanuary 1,  2002 (2002 -January-01)
JurisdictionEstonia
HeadquartersTallinn, Estonia
Agency executive
  • Kilvar Kessler, Chairman
Websitehttps://www.fi.ee/en

The supervisory activities of Finantsinspektsioon are divided between capital supervision and the supervision of markets and services.

In June 2006, Andres Palumaa was in charge when Andrey Kozlov warned him of a massive money laundering network involving two Estonian banks SEB Eesti Ühispank and Sampo Pank, corrupt FSB, and persons close to Vladimir Putin.[3][4][5][6] Raul Malmstein was Estonia's chief Financial Officer.[7][8][9][10] A very large amount of money had transited accounts with funds from the Nord Stream project which to finance the building of a pipeline from Vyborg, Russia, to Lubmin near Greifswald, Germany.[11][12][13] According to Natalia Morar's 21 May 2007 article in The New Times, Alexander Bortnikov, who was an FSB deputy deputy director as head of its economic security department, and Vladimir Putin were money laundering through Nord Stream funds at both Raiffeisen Zentralbank (Raiffeisen Zentralbank Oesterreich AG) in Austria and Diskont Bank in Russia.[11][12][13]

Finantsinspektsioon is financed by the supervision and procedure fees paid by the subjects of financial supervision. It is part of the European Single Supervisory Mechanism since 2014. [14]

See also

References
  3. Морарь, Наталья (Morar, Natalia). "Чиновники уводят деньги на Запад: 23 мая президент России Владимир Путин приедет с официальным визитом в Австрию. Там его может ждать сюрприз: по данным The New Times, Интерпол расследует, а австрийская полиция готова возбудить уголовное дело, в котором, как утверждают, завязаны ключевые фигуры его администрации" [Officials are diverting money to the West: On May 23, Russian President Vladimir Putin will pay an official visit to Austria. A surprise may await him there: according to The New Times, Interpol is investigating, and the Austrian police are ready to open a criminal case, in which key figures of his administration are allegedly involved.]. «The New Times» Issue №15 / 6. Archived from the original on 10 October 2007. Retrieved 22 December 2020.
  4. Hines, Nico (10 October 2018). "Russian Whistleblower Assassinated After Uncovering $200 Billion Dirty-Money Scandal. SILENCED. Andrei Kozlov was gunned down in 2006, weeks after trying to shutter the world's biggest money-laundering scam—one reportedly used by Putin's family and the FSB". The Daily Beast. Retrieved 22 December 2020.
  5. Staff (13 November 2006). Murdered Central Russian Banker's Visit to Estonia. Retrieved 22 December 2020.
  6. Lund, Michael; Bendtsen, Simone; Jung, Eva (26 February 2018). "Report: Russia Laundered Millions via Danske Bank Estonia". OCCRP. Retrieved 22 December 2020.
  7. Vahter, Tarmo; Vedler, Sulev (3 October 2006). "(Ekspressi Arhiivist) Tapetud Vene pankuri ultimaatum: kahe Eesti pangaga on tõsine probleem 1. Venemaa keskpanga asepresident Andrei Kozlov käis paar kuud enne mõrva poolsalaja Tallinnas. Ta nõudis Eesti võimudelt erandkorras mitme SEB Eesti Ühispangas ja Sampo Pangas asuva arve sulgemist. Jutt käis miljarditest rubladest ja kroonidest" [From the Ekspress Archive: The ultimatum of a killed Russian banker: there is a serious problem with two Estonian banks 1. Andrei Kozlov, the Deputy Governor of the Central Bank of Russia, went to Tallinn in secret a few months before the murder. He exceptionally demanded that the Estonian authorities close several accounts in SEB Eesti Ühispank and Sampo Pank. We were talking about billions of rubles and kroons]. Eesti Ekspress (in Estonian). Archived from the original on 11 October 2018. Retrieved 22 December 2020.
  8. Staff and wire reports (11 October 2006). "Money laundering surrounds Russian banker's murder". Baltic Times. Archived from the original on 23 December 2020. Retrieved 22 December 2020.
  9. Staff (13 November 2006). Murdered Central Russian Banker's Visit to Estonia. Retrieved 22 December 2020.
  10. Глебов, Матвей (Glebov, Matvey) (11 October 2006). "Убийцы Козлова задержаны: Киллеров-гастролеров наняли эстонские банкиры?" [Kozlov's killers detained: Tour killers hired by Estonian bankers?]. Izvestia (in Russian). Retrieved 22 December 2020. Original website: http://www.izvestia.ru/investigation/article3097407/ «Козлова убили киллеры-гастролеры?» ("Kozlov was killed by hit-and-run hitmen?") but the Izvestia article is based upon the Eesti Ekspress https://ekspressi.delfi.ee/artikkel/69075763 also https://ekspress.delfi.ee/kuum/ekspressi-arhiivist-tapetud-vene-pankuri-ultimaatum-kahe-eesti-pangaga-on-tosine-probleem?id=69075763 Killed Russian Banker Ultimatum with Two Estonian Banks
  11. Морарь, Наталья (Morar, Natalia) (21 May 2007). "Чиновники уводят деньги на Запад: 23 мая президент России Владимир Путин приедет с официальным визитом в Австрию. Там его может ждать сюрприз: по данным The New Times, Интерпол расследует, а австрийская полиция готова возбудить уголовное дело, в котором, как утверждают, завязаны ключевые фигуры его администрации" [Officials are diverting money to the West: On May 23, Russian President Vladimir Putin will pay an official visit to Austria. A surprise may await him there: according to The New Times, Interpol is investigating, and the Austrian police are ready to open a criminal case, in which key figures of his administration are allegedly involved.]. «The New Times» Issue №15 / 6. Archived from the original on 10 October 2007. Retrieved 22 December 2020.
  12. Морарь, Наталья (21 May 2007). "Миллиарды - на Запад: Выводом денег занимаются ведущие банки и крупные чиновники" [Billions – to the West: Leading banks and high-ranking officials are engaged in the withdrawal of money]. «The New Times» No. 15 (in Russian). Retrieved 22 December 2020.
  13. "Австрийская полиция может возбудить дело против ключевых чиновников Кремля, утверждает New Times" [Austrian police may sue key Kremlin officials, New Times says]. newsru.com (in Russian). 23 May 2007. Retrieved 22 December 2020.
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