1st May 2019
The European Commission’s top policymaker for the financial services sector has called for the EU to adopt new legislation in response to a decision earlier this month to close a bloc-wide investigation into the supervision of Danske Bank, the Financial Times reported. The European Banking Authority (EBA) voted on 16 April… Read More
18th April 2019
The European Union banking watchdog said on Wednesday that its investigation into financial regulators in Estonia and Denmark in relation to suspected money laundering activities by Danske Bank did not find any breach of EU law. Danish and Estonian financial regulators have publicly blamed each other for the Danske Bank… Read More
15th April 2019
Accountant EY’s audit of scandal-hit Danske Bank came under scrutiny on Friday as Danish authorities asked the state prosecutor for financial fraud to investigate the matter. Danske Bank is under investigation in the United States, Denmark, Estonia, France and Britain over payments from Russia, ex-Soviet states and elsewhere. It has… Read More
15th April 2019
European lawmakers are urging financial institutions and governments to address dozens of legal and supervisory shortcomings they say contributed to the proliferation of massive money laundering schemes in recent years. In a resolution adopted Thursday, the Council of Europe’s Parliamentary Assembly said that recent money laundering schemes linked to… Read More
4th April 2019
Money laundering allegations involving Sweden and Denmark have shattered faith in the open Nordic business culture, prompting demands for tighter controls on the banks held responsible. Ranked among the least corrupt countries by anti-graft campaign group Transparency International, Sweden and Denmark have been rocked by investigations into Danske Bank and… Read More
28th March 2019
Denmark’s financial watchdog will get more money, staff and powers under a deal agreed by lawmakers on Wednesday aimed at strengthening efforts to tackle finance crime in the wake of a money laundering scandal at the country’s biggest bank. However, Danish business minister Rasmus Jarlov said it could take “a… Read More
20th March 2019
Two U.S. law firms have filed a lawsuit against Danske Bank on behalf of institutional investors over a 200 billion euro ($227 billion) money laundering scandal. Grant & Eisenhofer P.A. and DRRT filed the lawsuit in Copenhagen on behalf of investors from 19 countries, asserting “fraud claims stemming from a… Read More
19th March 2019
Former and current members of Danske Bank’s executive board have waived bonuses for 2018 because of the money laundering scandal linked to the bank’s Estonian branch. Danske Bank is under investigation in the United States, Denmark, Estonia, France and Britain over 200 billion euros ($226 billion) in payments that were… Read More
18th March 2019
An internal Swedbank report in September detailed “suspicious” transactions totaling around $10 billion between customers of Swedbank and Danske Bank in the Baltics from 2007 to 2015, Swedish state television SVT reported. Swedbank said on Friday the figure reported by SVT was the gross amount of transactions with Denmark’s Danske… Read More
15th March 2019
Denmark’s financial watchdog said on Wednesday a Danish branch of Swedish bank SEB should obtain additional information on customers associated with high money-laundering risk as part of a check-up on the bank. “The Financial Supervisory Authority (FSA) estimates that the branch’s inherent risk of being misused for money laundering or… Read More