U.S. closely following Danske Bank money laundering case: paper
31 Aug 2018

U.S. authorities are closely following an investigation into Danske Bank (DANSKE.CO) over allegations that Denmark’s biggest lender had been involved in money laundering through its Estonian branch.

Investors are watching for signs of a possible U.S.-led fine, which would be another big hit to the bank, which has seen its shares fall by more than a fifth over the past six months as the scandal has unraveled.

“We are following this case very closely,” Assistant Secretary for Terrorist Financing at the U.S. Department of the Treasury, Marshall Billingslea, told Danish daily Berlingske.

He declined to confirm whether U.S. authorities had started an investigation into Danske Bank, which is being probed in both Denmark and Estonia.

“But we have a close cooperation with the authorities here in Denmark, as well as in Estonia,” he told the newspaper.

A Danske spokesman declined to comment on a potential dialogue between the bank and U.S. authorities.

“It is completely natural that there is interest for the case in Estonia from different authorities, including the U.S.,” he said in an emailed comment to Reuters, adding that the bank is making information available to authorities if needed.

– By Stine Jacobsen, Reuters, 30 August 2018.

Link to Reuters.

Count this content towards your CPD minutes, by signing up to our CPD Wallet


You must be logged in to post a comment.

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