Danske Bank executives waive 2018 bonuses after scandal
19 Mar 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 found to have flowed through its Estonian branch from Russia, former Soviet states and elsewhere between 2007 and 2015.

Since the scandal surfaced last year the bank has replaced its CEO and the chairman, pulled out of Russia and the Baltics, boosted its compliance efforts and promised to donate 1.5 billion Danish crowns ($230 million) to fighting financial fraud.

By Teis Jensen, Reuters, 18 March 2019

Link to Reuters

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