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Angola moves to seize Dos Santos-linked asset in Dutch court

Angola has asked a Dutch court to hand over a half-billion-dollar stake in the Portuguese oil company Galp linked to ex-first daughter Isabel Dos Santos, its lawyers told Reuters. Angola’s government says top officials under former president Jose Eduardo dos Santos took advantage of high oil prices in the last… Read More

Multi-million euro credit card scam broken up in joint U.S.-Spanish operation

Spanish police working with the U.S. Secret Service have shut down a criminal network that pocketed more than 12 million euros ($14.41 million) via a credit card fraud that extended across more than 15 countries, authorities said on Wednesday. More than 100 alleged members of the network were arrested in… Read More

More Traders Likely Face Charges in Danish Tax Investigations

Danish prosecutors who charged hedge-fund manager Sanjay Shah with running a $1.6 billion tax fraud say they’re looking at a “number of other suspects” in the case. Prosecutors said they’ll be in a position by March to decide whether to press charges against more members of a network that they… Read More

13th January 2021

U.S. tells European companies they face sanctions risk on Nord Stream 2 pipeline

The U.S. State Department this month told European companies which it suspects are helping to build Russia’s Nord Stream 2 gas pipeline that they face the risk of sanctions as the outgoing Trump administration prepares a final round of punitive measures against the project, two sources said on Tuesday. “We… Read More

8th January 2021

Danish prosecutors drop money laundering charges against ex-Danske Bank staff

Danish prosecutors said on Thursday they had dropped charges against six former Danske Bank employees as part of an investigation into the bank’s involvement in one of the world’s biggest money laundering scandals. Danske Bank is under investigation in several countries, including the United States, over some 200 billion euros… Read More

21st December 2020

U.S. Clears Danske of Sanctions Breach, But Case Isn’t Over

Danske Bank A/S probably didn’t breach U.S. sanctions when its Estonian unit handled billions of dollars in suspicious funds, meaning the lender could be facing a smaller fine than previously feared. Denmark’s biggest bank has been told by the U.S. Department of the Treasury’s Office of Foreign Assets Control… Read More

16th December 2020

U.S. investigation report hits SEB, Swedbank and Danske Bank shares

The Department of Justice (DOJ) and FBI are investigating SEB, Swedbank and Danske Bank over possible breaches of U.S. anti-money laundering regulations and fraud, Swedish newspaper Dagens Industri reported on Tuesday, sending the banks’ shares lower. Sweden had received requests for help from U.S. authorities investigating a Baltic money-laundering scandal… Read More

12th November 2020

U.S. targets insurers in latest round of Nord Stream 2 sanctions

The U.S. is drawing up additional sanctions on the Nord Stream 2 natural gas pipeline project, the latest obstacle in the path of the 9.5 billion-euro ($11.2 billion) Russia-to-Germany link that’s been halted almost a year. House and Senate negotiators agreed to target insurers and technical certification companies working on… Read More

3rd November 2020

CCO Philippe Vollot has a plan for Danske Bank’s compliance reboot

The past three years have not been kind to Danske Bank. In 2017, Denmark’s biggest lender found itself at the center of allegations that have since given the organization the dubious honor of being responsible for the world’s third largest money-laundering scandal. No one has yet to put a final… Read More

28th September 2020

Danske scandal reveals top-down culture that silenced bankers

The bank at the center of Europe’s worst ever money laundering scandal has yet to fully address the corporate culture issues that led it astray in the first place. That’s according to the watchdog that oversees Danske Bank A/S. Denmark’s biggest bank spent years locked in a top-down hierarchy… Read More

23rd September 2020

Danish watchdog tells Handelsbanken to improve customer oversight

Denmark’s financial watchdog on Tuesday ordered Handelsbanken to improve oversight of customers at its Danish branch after a review had found elevated risks of the branch being misused for money laundering and terrorist financing. The review, commissioned by the regulator, which took place between October and December last year, found that… Read More

22nd September 2020

Inside scandal-rocked Danske Estonia and the shell-company ‘factories’ that served it

By Simon Bowers, Karrie Kehoe and Holger Roonemaa, ICIJ, 21 September 2020 ICIJ — The Estonian banker was frantic: A whistleblower inside the bank suspected nine anonymous companies — all registered in the United Kingdom — of serious financial crimes and was threatening to go to authorities. “The whistleblower demands… Read More

25th August 2020

U.S. judge dismisses lawsuit against Danske Bank over money laundering scandal

A U.S. judge on Monday dismissed a lawsuit accusing Denmark’s Danske Bank A/S and four former top executives of defrauding shareholders by hiding and failing to stop widespread money laundering at its former Estonian branch. U.S. District Judge Valerie Caproni in Manhattan said shareholders in the proposed class action failed… Read More

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