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Deutsche Bank took years to flag suspect Danske money flows – source

Deutsche Bank did not disclose more than one million suspect money transfers with Danske Bank until February, a person with direct knowledge of the matter said, about five years after a whistleblower flagged suspicious transactions at Danske. Deutsche (DBKGn.DE) sent alerts about the suspect money flows involving the… Read More

Danske Bank stops hiring new staff amid higher compliance costs

Danske Bank (DANSKE.CO) has started a hiring freeze to cope with rising compliance costs and a tough business environment, the bank said on Thursday. Danske Bank has been rocked by its involvement in a major money laundering scandal. It said last year it had channeled 200 billion euros… Read More

IMF asked to evaluate Nordic and Baltic money laundering prevention

The International Monetary Fund (IMF) is asked to conduct an independent evaluation of money laundering prevention in the Nordic and Baltic region, a member of the Bank of Lithuania’s board said Wednesday. “A regional monetary prevention evaluation will be performed,” Marius Jurgilas told members of the Seimas Committee on Budget… Read More

7th October 2019

A Banker Who Handled Danske’s Non-Resident Accounts Speaks Out

Between 2009 and 2015, Mihhail Murnikov spent his days handling as many transactions as he could at the non-resident unit of Danske Bank A/S in Estonia. Roughly a year after Danske admitted that those transactions were part of a $220 billion money laundering scandal, prosecutors from Tallinn to Washington D.C. Read More

1st October 2019

Death of former Danske Bank executive ruled suicide

The former head of the Estonian branch of Denmark’s scandal-plagued Danske Bank committed suicide, police and prosecutors said Monday. Police found the body of Aivar Rehe, 56, in his yard last Wednesday, two days after he had gone missing. Rehe was the head of Danske Bank’s Estonian branch from 2008… Read More

30th September 2019

Estonia’s interior minister calls for enquiry into banker’s death

Estonia’s interior minister on Sunday called for an enquiry into the death of the former head of Danske Bank’s Estonian branch, which is at the center of investigations into the world’s largest money laundering scandal. Last week, police in Estonia discovered the body of Aivar Rehe, who ran the Danish… Read More

27th September 2019

Denmark Moves to Protect Bankers Who Blow the Whistle on Dark Money

Denmark is proposing steps to protect bankers amid evidence they regularly receive threats for exposing clients involved in suspicious dealings. The Danish government wants to make it possible to keep bank clients in the dark if they’ve triggered a suspicious activity report. The country’s bankers association, Finans Danmark, is throwing… Read More

27th September 2019

Danske Bank Executive Ensnared in Money-Laundering Scandal Found Dead

The former head of Danske Bank in Estonia, the unit at the center of a $220 billion money-laundering scandal, was found dead after disappearing from his home on Monday. Aivar Rehe, who was chief executive officer of the branch until he left in 2015, had been reported missing from his… Read More

25th September 2019

iSignthis transfers flagged multiple times at fallen Danish bank

A series of transfers in the final days of June 2018 by a subsidiary of iSignthis triggered suspicious transaction alarms at fallen Danish bank KAB because they were considered large foreign transfers, according to a joint investigation by The Australian Financial Review and Danish business daily Børsen. Documents obtained… Read More

25th September 2019

Police Begin Search After Danske’s Ex-CEO in Estonia Goes Missing

Police in Estonia are looking for the man who used to run the Danske Bank unit now at the center of a money-laundering scandal that’s triggered multiple criminal investigations. Aivar Rehe, who was the chief executive officer of the Danish bank’s Estonian branch in 2006-2015, has been missing since… Read More

11th September 2019

Banks Don’t Need More Detailed Regulation, Danish Governor Says

Financial regulation has gone far enough and there may be room to simplify some rules, Denmark’s central bank governor said. “I’m not in favor of further detailed regulation,” Lars Rohde said in a speech on Tuesday in Copenhagen. “And perhaps we should consider whether the fence poles are in… Read More

9th September 2019

Danske Regulators Not Off the Hook as EU Continues Investigation

The European Union is continuing to investigate Danske Bank A/S’s regulators in Denmark and Estonia even after the bloc’s banking watchdog concluded they hadn’t broken EU law during one of the region’s biggest-ever money-laundering scandals. The European Commission, the EU’s executive arm, is still examining the matter to… Read More

6th September 2019

Money-laundering scandals spark new risk retrenchment

Ever since the 2008 financial crisis, US financial misconduct fines have led the world. However, defenders of Europe’s more collegiate approach to tackling banks’ money-laundering shortcomings say US banks also lead the world for de-risking, shunning some of the globe’s poorest countries from access to the dollar system. … Read More

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