01 Feb 2019
Danish and Estonian financial regulators are blaming each other for the Danske Bank money laundering scandal, which has highlighted the need for better cross-border surveillance.
Denmark’s largest lender is being investigated in Denmark, Estonia, Britain and the United States over 200 billion euros ($229 billion) of suspicious payments through its Estonian branch between 2007 and 2015.
The Danish Financial Supervisory Authority (DFSA) this week prompted a sharp rebuke from its Estonian counterpart when it said it had met its obligations.
“As the host country supervisory authority, the Estonian supervisory authority (EFSA) has had and still has responsibility for the anti-money laundering (AML) supervision of the Estonian branch,” the DFSA said in a report.
– By Teis Jensen, Reuters, 31 January 2019.
Photo: Danske Bank offices in Lithuania.
Link to Reuters.
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