This picture taken on September 5, 2017 shows a branch of Denmark's Danske Bank in Tallinn, Estonia. AFP / RAIGO PAJULA
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The head of Europol is calling for tighter controls after an analysis found that money laundering goes mostly uninvestigated, despite banks alerting police to record numbers of suspicious transactions.European banks flagged almost 1 million transactions suspected of laundering money in 2014, the latest year for which data is available, the law enforcement agency said Tuesday. But only one in 10 of these was investigated and Europol is now urging banks to improve the data they provide to help law enforcement authorities to follow up. In its analysis, the European Union police agency found that there were more than 350,000 suspicious cases in 2014 reported to the United Kingdom police authorities – roughly two-thirds higher than in 2006 .
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