04 Feb 2019
Denmark’s top lender Danske Bank has been named the winner of the 2019 Corrupt Actor of the Year over its €200 billion money laundering affair exposed in 2018, and which was considered to the biggest scandal in Europe.
Details of the stunning banking scandal were made bare in an internal report published in September 2018, which showed that a large number of non-residential customers in its Estonia branch had carried out large volumes of transactions ‘that should have never happened.’
The lender also said workers at the Estonia unit may have colluded with customers in laundering cash.
Non-profit media organisation The Organized Crime and Corruption Reporting Project (OCCRP), which awarded the prize, said it has spotlighted the individual or institution that has done the most over the previous 12 months to advance organized criminal activity and corruption in the world.
OCCRP co-founder and editor Drew Sullivan explained: “Danske Bank is a worthy recipient of this prize. It highlights the role of the criminal services industry in enabling international corruption and crime.”
‘The term “criminal services” refers to the banks, law firms, registration agents, accountants, and others who help criminals and corrupt officials hide their assets and legitimize their operations.’
Nominations for the prize are understood to have been submitted by journalists and the public.
Count reading this article to your CPD minutes, by signing up to our CPD WalletFREE CPD Wallet