The Estonian Financial Supervisory Authority (FI) (Estonian: ''Finantsinspektsioon'') is the financial supervision and crisis resolution authority of the government of
Estonia
Estonia, formally the Republic of Estonia, is a country by the Baltic Sea in Northern Europe. It is bordered to the north by the Gulf of Finland across from Finland, to the west by the sea across from Sweden, to the south by Latvia, a ...
, responsible for the regulation of financial markets in
Estonia
Estonia, formally the Republic of Estonia, is a country by the Baltic Sea in Northern Europe. It is bordered to the north by the Gulf of Finland across from Finland, to the west by the sea across from Sweden, to the south by Latvia, a ...
. It works on behalf of the state of
Estonia
Estonia, formally the Republic of Estonia, is a country by the Baltic Sea in Northern Europe. It is bordered to the north by the Gulf of Finland across from Finland, to the west by the sea across from Sweden, to the south by Latvia, a ...
and is independent in its decision-making.
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
Andrei Andreyevich Kozlov (russian: Андре́й Андре́евич Козло́в; January 6, 1965 – September 14, 2006) was the first deputy chairman of the Central Bank of the Russian Federation from 1997 to 1999 and again in 2002 to 2006 ...
warned him of a
massive money laundering network involving two Estonian banks
SEB Eesti Ühispank
SEB Pank is an Estonian bank, owned by the Swedish bank SEB. SEB is the second largest bank in Estonia and is a member of the international SEB Group. Until 11 April 2005 the name of the bank was Eesti Ühispank, which was originally founded in ...
and
Sampo Pank, corrupt
FSB, and persons close to
Vladimir Putin
Vladimir Vladimirovich Putin; (born 7 October 1952) is a Russian politician and former intelligence officer who holds the office of president of Russia. Putin has served continuously as president or prime minister since 1999: as prime min ...
.
[Staff (13 November 2006)]
Murdered Central Russian Banker's Visit to Estonia
Retrieved 22 December 2020. Raul Malmstein was Estonia's chief Financial Officer.
A very large amount of money had transited accounts with funds from the
Nord Stream 1
Nord Stream (German-English mixed expression; german: Nord and en, Stream, literally 'North Stream'; russian: Северный поток, ''Severny potok'') is a pair of offshore natural gas pipelines in Europe that run under the Baltic Sea ...
project which to finance the building of a pipeline from
Vyborg, Russia
Vyborg (; rus, Вы́борг, links=1, r=Výborg, p=ˈvɨbərk; fi, Viipuri ; sv, Viborg ; german: Wiborg ) is a town in, and the administrative center of, Vyborgsky District in Leningrad Oblast, Russia. It lies on the Karelian Isthmus ne ...
, to
Lubmin
Lubmin () is a coastal resort in the German state of Mecklenburg-Vorpommern. Lubmin is situated near Greifswald and on the Bay of Greifswald.
Apart from tourism, Lubmin is a major transport and industry hub and investment location in the German ...
near
Greifswald
Greifswald (), officially the University and Hanseatic City of Greifswald (german: Universitäts- und Hansestadt Greifswald, Low German: ''Griepswoold'') is the fourth-largest city in the German state of Mecklenburg-Western Pomerania after Rostoc ...
,
Germany
Germany,, officially the Federal Republic of Germany, is a country in Central Europe. It is the second most populous country in Europe after Russia, and the most populous member state of the European Union. Germany is situated betwe ...
.
According to
Natalia Morar
Natalia Morari ( ro, Natalia Morari, russian: Наталья Григорьевна Морарь; born 12 January 1984 in Kotovsk, Moldavian SSR) is a Moldovan investigative journalist for the Russian magazine '' New Times''. She was a permanent ...
's 21 May 2007 article in
The New Times,
Alexander Bortnikov
Alexander Vasilyevich Bortnikov (russian: Алексaндр Васильевич Бoртников; born 15 November 1951) is a Russian intelligence officer who has served as the Director of the Federal Security Service, director of the Russian ...
, who was an
FSB deputy deputy director as head of its economic security department, and
Vladimir Putin
Vladimir Vladimirovich Putin; (born 7 October 1952) is a Russian politician and former intelligence officer who holds the office of president of Russia. Putin has served continuously as president or prime minister since 1999: as prime min ...
were money laundering through Nord Stream funds at both
Raiffeisen Zentralbank
Raiffeisen Zentralbank Österreich A.G. was the central institution of the Raiffeisen Banking Group Austria (RBG). The central bank was merged with its subsidiary Raiffeisen Bank International in 2017.
It functions as the group centre for the ...
(Raiffeisen Zentralbank Oesterreich AG) in Austria and Diskont Bank in Russia.
[
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.]
See also
* Economy of Estonia
The economy of Estonia is an advanced economy and the country is a member of the European Union and of the eurozone. Estonia's economy is heavily influenced by developments in the Finnish and Swedish economies.
Overview
Before the Second World ...
* Bank of Estonia
Bank of Estonia ( et, Eesti Pank) is the central bank of Estonia as well as a member of the Eurosystem organisation of euro area central banks.
The Bank of Estonia also belongs to the European System of Central Banks. Until 2010, the bank is ...
* Government of Estonia
The Government of the Republic of Estonia (''Estonian language, Estonian: Vabariigi Valitsus'') is the cabinet (government), cabinet of Estonia. Under the Constitution of Estonia, Constitution, it exercises executive power pursuant to the Constit ...
References
{{Reflist
Economy of Estonia
Government of Estonia