Financial Crime World

Crime Wave Hits Estonia: Residents Abroad Linked to Jewelry Heists

A Disturbing Trend Emerges

A concerning trend has been observed in Estonia, where residents have been linked to a series of high-value jewelry heists abroad. According to reports, Estonian nationals were responsible for 140 robberies of jewelry and watch stores in several European countries between 2003 and 2006.

Estimated Value and Countries Affected

The estimated value of the stolen property is a staggering 25 million euros. The cases were reported in:

  • Finland
  • Netherlands
  • Portugal
  • Italy
  • Spain
  • France
  • Germany
  • United Kingdom
  • Denmark
  • Sweden

Recent Conviction in French Court

In related news, a French court recently convicted Le gang des Estoniens, a group of Estonian nationals accused of robbing several jewelry stores in Paris.

Organized Crime Activity Abroad and Within Estonia’s Borders

The rise in organized crime activity abroad is part of a larger trend. According to statistics:

  • The number of drug-related crimes in Estonia increased by 21% between 1997 and 2001.
  • Overall, crime rates have fallen precipitously in Estonia since 1995, with a decline of nearly 70%.
  • Despite this positive trend, concerns remain about organized crime activity within the country’s borders. In 2012, Estonia ranked 29th out of 176 countries in Transparency International’s Corruption Perceptions Index.

Government Initiatives to Combat Organized Crime and Corruption

The Estonian government has implemented various initiatives to combat organized crime and corruption, including:

  • Increased cooperation with international law enforcement agencies.

Sources:

  • Council of Europe, Organised Crime Situation Report 2001
  • Transparency International, Corruption Perception Index 2012
  • Europol, Assessment of Baltic Organized Crime Hub (May 24, 2011)
  • Estonian Corruption Profile from the Business Anti-Corruption Portal
  • Freedom House, Estonia Country Profile 2013