Danish Watchdog May Open New Probe of Alleged Danske Bank Money Laundering

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A newspaper report alleging Danske Bank laundered up to $8.3 billion through its Estonian branch could prompt Denmark’s financial watchdog to open a new investigation into the bank, the country’s business minister said on Wednesday.

Shares in Danske Bank fell more than 3 percent after Danish daily Berlingske alleged the bank’s Estonian branch was a conduit for suspicious money flows worth at least 53 billion Danish crowns ($8.3 billion), more than twice the amount previously reported.

The daily said it was in possession of bank statements for 20 companies that held accounts with the Estonian branch over various periods from 2007 to 2015.

“It is too soon to make any conclusions about the extent of potential money laundering in Estonia,” Danske Bank’s head of group compliance, Anders Meinert Jorgensen, said in an email.

Read the original article here: reuters.com

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