01 Jun 2020
Denmark’s state prosecutor has dropped its investigation into whether accounting firm EY breached anti-money laundering laws in connection with its audit of Danske Bank, the Danish Business Authority said on Friday.
Some 200 billion euros ($222.74 billion) in payments flowed through the non-resident portfolio of Danske’s Estonian branch between 2007 and 2015 and a report commissioned by Danske concluded many of those payments were suspicious.
The Danish bank is under investigation in the United States, Denmark, Estonia, France and Britain over payments from Russia, ex-Soviet states and elsewhere.
The DBA, which reported EY to authorities last year, said it had been notified by the prosecutor that the investigation had been halted because there was “no reasonable suspicion that any criminal offence has been committed”.
EY was external auditor for Danske Bank until Deloitte took over the job in 2015.
“We have been informed that the investigation is suspended and with a clear conclusion that no criminal offence has been found,” Torben Bender, EY’s chief executive in Denmark, said in a statement.
By Stine Jacobsen, Reuters, 29 May 2020
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