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Estonian branch of the Danske Danish Bank may have been used to launder 53 billion Swedish crowns ($ 8.3 billion), reported Bloomberg Earlier this year, the largest Danish bank was widely criticized by Danish regulators for the weak and almost nonexistent control of money laundering attempts. Money that raised suspicions of criminal activity involving huge sums of money. Harsher penalties by the government
The amount is considerably higher than the 25 million ds of crowns originally announced. The new figure is based on documents from about twenty companies that had accounts in the Estonian branch of Danske between 2007 and 2015. It is not known who is behind the transactions, but it is badumed that the 39, silver comes from Russia, Moldova and Azerbaijan [19659005] The effect
The shares of the Bank recorded a decline of more than 3% on the Copenhagen Stock Exchange on Wednesday, but Thursday morning partially offset the decline .
Danske Bank plans to provide the findings of an internal investigation into the offenses in September. After the latest accusation, Anders Jorgensen, the head of Danske Bank's tax group, said it was "too early to draw conclusions about the extent of potential money laundering in Estonia. ". "That's the reason we did not publish any numbers and we did not comment on speculation about potential amounts," he added.
The bank continues to cooperate with the authorities and to provide information on the case. Danske Danske Operations, a member of the Executive Board, said that the survey "worries management because of the effect it may have on the market".
Danish Minister of Economy Rasmuss said that the bank's internal investigation would not be enough. Governor satisfied and said that he expects future checks. The government and the central bank said the deal could damage the international reputation of the entire country, which is otherwise badociated with extremely low levels of corruption
Public Discontent
Danske Bank claims to address some government issues, including the obvious lack of implications for management, and if it can be trusted by its own investigations into the case. On Tuesday, the bank said its investigation was led by "foreign law firms in collaboration with leading international experts".
In terms of governance, the bank has listed a number of changes, including a new management team in Estonia from board member Lars Morch. The bank also said that the council would decide what to do with the gains generated by the activity in Estonia
The criticism towards Danske is another case of saga between European banks and regulators in the accusations of money laundering. 39; money. This year, the ECB forced a Latvian bank and an Estonian bank to close due to poor control, while the Swedish Handelsbanken and Nordea were among the biggest lenders that were criticized
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