EU banking watchdog clears Estonian, Danish regulators over Danske Bank
18 Apr 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 money laundering scandal, after Denmark’s largest bank last year admitted that 200 billion euros ($226 billion) of suspicious transactions flowed through its Estonian branch between 2007 and 2015.

The European Banking Authority (EBA) in February said it had opened a formal investigation into a possible breach of EU law by the two regulators.

The investigation did not find any breaches and was closed without issuing a recommendation, the watchdog said in a press release on Wednesday.

By Jacob Gronholt-Pedersen, Reuters, 17 April 2019

Read more at Reuters

Read more:

Estonia orders Danske Bank to shut down following money laundering scandal

Money Laundering at Danske Bank: Lessons for financial crime professionals (Part 1)

Danske Bank faces €28 million money laundering probe in France

You can claim CPD minutes for reading this article, by signing up to our CPD Wallet

FREE CPD Wallet
No Responses to “EU banking watchdog clears Estonian, Danish regulators over Danske Bank”

You must be logged in to post a comment.

This site uses Akismet to reduce spam. Learn how your comment data is processed.