Clients of Danske Bank, SEB and Credit Suisse performed € 661 million operations with cryptocurrencies


The report of the Financial Crimes Investigation Service of Lithuania (FCIS) states that in two years the clients of European banks made transactions with cryptocurrencies in the amount of € 661 million, reports.

In the field of view of the Lithuanian regulator, 600 individuals and legal entities, which conducted transactions from € 80 thousand, were included.

The report on the investigation of large-scale digital assets and fiat currency transactions includes banks: Danske Bank from Denmark, Swedbank and SEB from Sweden, Credit Suisse from Switzerland, ING Group from the Netherlands, Luminor, Pervesk and Mister Tango from Lithuania, and Citadele from Latvia.

The FCIS document states that three Lithuanian and Swedish residents carried out major transactions from € 14 million to € 27 million. FCIS Director Mindovg Petrauskas also said that one Lithuanian declared income from buying and selling cryptocurrency of € 6 million of krogerfeedback.

He noted that most bank customers chose not to report the origin of their initial capital. Probably, according to Petrauskas, part of the funds they received from crypto-trading or investment in ICO.

The director of FCIS stressed that there is a high risk of money laundering in the industry of ICO and during operations with cryptocurrencies. Note that in 2018 Lithuanian investors are actively investing in ICO projects. If last year the total amount of investments was € 82 million, at the beginning of 2018 this figure was already equal to € 500 million.


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