26 Oct 2018
Denmark plans to strengthen its financial regulator to make it better able to fight money launderng, its business minister said on Thursday, as the country’s largest bank, Danske Bank (DANSKE.CO), is embroiled in a major scandal.
The scandal involves 200 billion euros ($230 billion) in payments through Danske’s Estonian branch between 2007 and 2015, many of which the bank said in a report last month it thinks are suspicious.
The scandal has led the bank’s former chief executive Thomas Borgen to resign and almost halved Danske Bank share price since February.
“Obviously, supervision must be strengthened and conducted in a different way than it has been done in the period 2007-2015 when we can see that Europe’s largest money laundering case was not detected,” conservative minister Rasmus Jarlov said on Facebook early on Thursday.
– By Teis Jensen, Reuters, 25 October 2018.
Link to Reuters.
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