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Nordea Wins Danish Court Battle to Ban Staff Trading in Bitcoin

Nordea Bank is free to prevent its employees from investing in Bitcoin and other cryptocurrencies in their own time, a Danish court ruled. The risks associated with cryptocurrencies justify the restriction, according to a verdict published on the Copenhagen-based court’s website late Monday. Denmark’s union for financial industry… Read More

U.S. digs deeper into Deutsche role in Danske money laundering scandal – sources

The U.S. Department of Justice has in recent weeks stepped up its investigation into Deutsche Bank’s role in the 200 billion euro ($220 billion) Danske Bank money laundering scandal, four people familiar with the inquiry told Reuters. One source said the DoJ’s new line of inquiry is whether Deutsche (… Read More

IMF to examine Nordic efforts to stop money laundering in the Baltics

The International Monetary Fund will examine efforts by Nordic banks and regulators to stop money laundering in the region and the Baltic countries, Sweden’s central bank said on Thursday, following a string of alleged lapses. Nordic banks have been hit by a steady stream of allegations over failures to combat… Read More

18th November 2019

Danske Gold Report Has Danish Lawmakers Calling for Broader Probe

Investigations into money laundering at Danske Bank A/S should be expanded to include the lender’s possible use of gold as a way to help clients in Estonia hide their fortunes, according to Danish lawmakers. “Danske Bank has some explaining to do,” Torsten Schack Pedersen, a Liberal Party member on… Read More

15th November 2019

Danish watchdog orders Handelsbanken to boost anti-money laundering efforts

Denmark’s financial regulator has ordered the Danish unit of Swedish Handelsbanken (SHBa.ST) to strengthen its anti-money laundering efforts and revise its risk evaluation, the watchdog said on Thursday. “The branch’s inherent risk of being misused for money laundering or terrorist financing is normal to high compared to the… Read More

12th November 2019

Bankers in $220 Billion Scandal Offered Gold to Hide Client Cash

At the height of the Danske Bank A/S dirty-money scandal, the lender started offering gold bars to wealthy clients to help them keep their fortunes hidden, according to documents seen by Bloomberg. The bank’s Estonian branch, which was already wiring billions of client dollars to offshore accounts, told a select… Read More

23rd October 2019

Danske Probe Draws U.S. Pressure for Convictions, Estonia Says

The U.S. is putting pressure on Estonia to make sure criminal investigations into money laundering at Danske Bank A/S result in convictions, according to the government in Tallinn. Martin Helme, Estonian finance minister, says meetings he held in the U.S. earlier this month made clear to him that the government… Read More

22nd October 2019

More investors join U.S. lawsuit against Danske Bank

A group of 64 institutional investors has joined an existing U.S. lawsuit against Danske Bank over a $200 billion money laundering scandal, the law firms behind the action said in a statement on Monday. Danske Bank is under investigation in several countries including the United States over 200 billion euros… Read More

15th October 2019

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

14th October 2019

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

10th October 2019

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

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