Estonian bank LHV Pank is claiming €247,000,000 from the Financial Intelligence Unit (FIU) over the alleged unlawful access of the bank’s data, including transactions and bank account statements, over a five-year period.
LHV referred to an opinion from Chancellor of Justice Ülle Madise issued at the start of this month, in which she stated that the FIU had unlawfully accessed various data in banks through the enforcement register. This included bank account statements, i.e., information on all transactions.
LHV says to its best current knowledge, the FIU had actively obtained and unlawfully accessed its clients’ bank account statements 1,289 times, between January 1, 2020, and July 18, 2025.
“For the purpose of thoroughly protecting its own and its clients’ rights, [the bank] hereby issues this notice of intent to claim a contractual penalty in the amount of €247,500,000 euros,” LHV stated in a letter sent to the FIU on July 24.
LHV Pank is integrated with the enforcement register, the bank said. “It is of utmost importance to us that the retrieval and further processing of data containing banking secrecy by state institutions is conducted transparently, legally, and purposefully. For a credit institution, maintaining client trust is of paramount importance. When an individual entrusts their data, they have a justified expectation that such data will not be abused by the state,” the bank wrote. “Every instance where the use of data is vague, unchecked, or unjustified undermines trust.”
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