New Anti-Money-Laundering Tool Could Overcome Privacy Concerns
(Bloomberg) — Lenders in a country at the center of one of Europe’s largest dirty-cash scandals are testing a new anti-money-laundering system that doesn’t interfere with banking privacy.
![Green lights illuminate cable terminals on the Sberbank and SberCloud Christofari supercomputer during an event to mark its launch into commercial operation inside the Sberbank PJSC data processing center (DPC) at the Skolkovo Innovation Center in Moscow, Russia, on Monday, Dec. 16, 2019. As Sberbank expands its technology offerings, the Kremlin is backing legislation aimed at keeping the country's largest internet companies under local control by limiting foreign ownership.](https://www.msn.com/{"default":{"load":"default","w":"80","h":"53","src":"//img-s-msn-com.akamaized.net/tenant/amp/entityid/BB19Kr7L.img?h=533&w=799&m=6&q=60&o=f&l=f"},"size3column":{"load":"default","w":"62","h":"42","src":"//img-s-msn-com.akamaized.net/tenant/amp/entityid/BB19Kr7L.img?h=417&w=624&m=6&q=60&o=f&l=f"},"size2column":{"load":"default","w":"62","h":"42","src":"//img-s-msn-com.akamaized.net/tenant/amp/entityid/BB19Kr7L.img?h=417&w=624&m=6&q=60&o=f&l=f"}})
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Green lights illuminate cable terminals on the Sberbank and SberCloud Christofari supercomputer during an event to mark its launch into commercial operation inside the Sberbank PJSC data processing center (DPC) at the Skolkovo Innovation Center in Moscow, Russia, on Monday, Dec. 16, 2019. As Sberbank expands its technology offerings, the Kremlin is backing legislation aimed at keeping the country’s largest internet companies under local control by limiting foreign ownership.
Local units of Swedbank AB and SEB AB, as well as their smaller rivals Luminor Bank AS and LHV Pank AS, will join a six-month pilot project by technology startup Salv to create a secure data-exchange tool with financial watchdogs in Estonia.
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The Baltic nation, a digital trailblazer that’s
