3rd September 2019
Huge fines, criminal investigations and public opprobrium are the consequences of big anti-money laundering failures at banks, but what about the regulators? The reluctance of fellow EU supervisors to criticize one of their own in Denmark has heightened doubts about Europe’s AML framework. Those of us used to hearing bankers’… Read More
2nd September 2019
Denmark’s financial watchdog said on Friday it had reported Danske Bank (DANSKE.CO) to the police for overcharging customers, the latest blow to the lender as it tries to restore trust after involvement in a major money laundering scandal. The FSA said in June it was investigating the bank… Read More
27th August 2019
Danske Bank A/S’s financial regulator says it expects its board to decide soon whether to report the lender to police for overcharging retail investors. Jesper Berg, the director general of the Financial Supervisory Authority in Copenhagen, said that the FSA’s board “will decide in the late summer months.” “When, we… Read More
22nd August 2019
Denmark’s financial watchdog has prepared a draft report to send to Danish police over Danske Bank’s (DANSKE.CO) overcharging of customers, a scandal that led to the dismissal of the bank’s former interim chief executive. “It’s correct, there is a draft for a police report,” spokesman for the Financial… Read More
21st August 2019
Danske Bank A/S is getting rid of thousands of job titles as the lender tries to create a more transparent organization. The Copenhagen-based bank, where ABN Amro veteran Chris Vogelzang took over as chief executive officer in June, is slashing the number of job titles to around 400 from… Read More
19th August 2019
In an era when compliance heads have unprecedented importance in banking, there is perhaps no other major financial institution in the world where the role is quite as crucial as it is at Danske Bank. Philippe Vollot became the Danish lender’s new chief compliance officer in November last year, just… Read More
12th August 2019
Estonian prosecutors said on Friday that last month they had ordered a local court to seize around 2 million euros ($2.24 million) from a bank account belonging to a former Danske Bank employee as part of an investigation into alleged money laundering. The money was sitting in a Latvian bank… Read More
9th August 2019
A U.S. class action lawsuit against the Danish bank at the center of Europe’s biggest money laundering scandal is set to continue after a court denied as moot a request to dismiss the case. Danske Bank A/S must respond to an amended investor complaint by mid-September, according to an… Read More
23rd July 2019
The new chief executive officer of Danske Bank A/S says he wants anyone with good ideas about how to run his firm to contact him. About 1 1/2 years after Danske was slammed by its financial regulator for having a culture that… Read More
22nd July 2019
Swedish cash-handling firm Loomis AB (LOOMb.ST) reported flaws in its anti-money laundering oversight on Friday and vowed to fix them. Loomis launched an investigation into its operations in May after a journalist alleged it was implicated in a Danish money laundering scandal involving foreign exchange agencies. Danish authorities… Read More