Contents tagged with Danske Bank

  • EU investigates laundering of Russian money through Danske Bank

    The European Banking Authority (EBA) has opened an investigation into the laundering of Russian money through Danske Bank with respect to the supervisory bodies in Denmark and Estonia.

    The EBA will examine whether the Danish and Estonian financial services authorities fulfilled their obligations according to EU legislation.

    In June 2018, the Estonian prosecution office initiated a criminal investigation against the Estonian branch of Danske Bank, which is believed to have participated in the …

  • Russian tycoon Rotenberg files lawsuit against Scandinavian banks for failure to provide service because of sanctions

    Representatives of the Swedish banks Svenska Handelsbanken and Nordea, the Danish bank Danske Bank and their Finnish divisions have confirmed to the Finnish broadcasting corporation Yle that Russian businessman Boris Rotenberg filed lawsuits against them and accused them of violating their obligations.

    In early October, Rotenberg filed lawsuits against these banks and the Finnish OP Corporate Bank with the Helsinki District Court. The businessman alleged that the banks violated service …

  • Danske Bank CEO resigns over Russian money laundering scandal

    Danske Bank CEO Thomas Borgen has announced that he will resign once a replacement for him has been found. This decision comes as a result of a scandal in which money from Russia and the former Soviet Union was laundered through the bank’s Estonian branch, BBC reports.

    “It is clear that Danske Bank has failed to live up to its responsibility in the case of possible money laundering in Estonia. I deeply regret this,” he said. “Even though the investigation conducted by the external law firm …

  • Media: $30 billion of Russian money passed through Danske Bank in Estonia

    Danske Bank in Copenhagen is slipping deeper into what may become the largest European money-laundering scandal, the Frankfurter Rundschau writes.

    Recently the media obtained information that “after inspection of documents from the bank’s internal investigation, it came out that in 2013 alone, $30 billion (€ 25.8 billion) from suspicious Russian sources passed through the bank’s branch in Estonia”.

    The volume of illicit monetary flows greatly exceeds the $10 billion of Russian dirty money …