How do you explain the 2014 Danske Bank money laundering scandal in Estonia? To be clear: I recognize that Estonia is not Lithuania. My point: Estonia is also a part of EU / Eurozone and its central bank is governed by ECB. That governance did little to nothing to stop the money laundering scandal. It went on for years, which implies incredibly weak enforcement of banking regulations. Outside of the economic majors in EU, I am generally distrustful of banking regulation _enforcement_. Yes, the laws are written, but are they effectively enforced? I doubt it.