15th November 2018
Danske Bank’s (DANSKE.CO) 200 billion euro ($225 billion) money laundering scandal might be the “tip of the iceberg” and investigators should examine whether major Western banks played a role, a lawyer for the whistleblower said. Stephen Kohn, a partner at U.S. law firm Kohn, Kohn and Colapinto who is representing… Read More
6th November 2018
Denmark’s tax minister has asked the Danish Financial Supervisory Authority (FSA) to investigate whether Danske Bank, Nordea and SEB have handed over all relevant material in a $2 billion tax probe. The tax ministry says it needs more information from the banks in order to advance its investigation into the… Read More
26th October 2018
The European Union should set up a new agency to counter money laundering after a series of high-profile cases at banks bared weaknesses in the system, an influential think-tank said in a report, urging full disclosure of fines imposed on wrongdoers. Over the last months, lenders in Denmark, Estonia, Latvia,… Read More
15th October 2018
Estonia plans an independent inquiry into alleged money laundering in the country from 2007 to 2015, a finance ministry spokeswoman said on Friday. – Reporting by Tarmo Virki, Reuters, 12 September 2018. Link to Reuters. Read More
4th October 2018
Banks doing business in Estonia, which has been at the centre of a money-laundering scandal involving Danske Bank, handled more than $1 trillion (768.18 billion pounds) in cross-border flows between 2008 and 2017, according to the country’s central bank. The European Union member country of just 1.3 million people has… Read More
3rd October 2018
In a u-turn, Danske Bank has announced the immediate departure of CEO Thomas F. Borgen, just days after it said he would remain with the bank until a new CEO was appointed. Indications are Borgen would have preferred to stay on longer but was forced to quit immediately. He… Read More
3rd October 2018
The European Union needs clearer rules to combat money laundering that would apply equally to all EU countries, European Central Bank Vice President Luis de Guindos said on Tuesday. The 28-nation bloc is grappling with high-profile cases of money laundering at banks in member states, including Estonia, Denmark, the Netherlands,… Read More
21st September 2018
Danske Bank (DANSKE.CO) faced a new Danish money laundering inquiry on Thursday as political anger spread over a scandal involving 200 billion euros (177 billion pounds) in payments, many of which were suspicious, through Estonia. Chief Executive Thomas Borgen resigned on Wednesday after an investigation commissioned by Danske Bank exposed… Read More
14th September 2018
Danske Bank’s (DANSKE.CO) chief executive rejected calls in 2013 to scale back business at the bank’s Estonian branch, the Financial Times reported on Thursday. The bank will on Sept. 19 publish the findings of an investigation into past activities in Estonia that could be one of the biggest money-laundering scandals… Read More
4th September 2018
Danske Bank (DANSKE.CO) handled up to $30 billion of non-residents’ money via its Estonian branch in 2013 according to an independent investigation, the Financial Times reported on Monday. The non-resident portfolio at the Estonian branch has been at the centre of allegations that the bank had flawed money laundering controls… Read More