Danske Reinvestigates Estonia Unit After Money Laundering Report
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Source: BFW (Bloomberg First Word)
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DANSKE DC (Danske Bank A/S)
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(Bloomberg) -- Danske Bank says it has reopened investigations of operations at its Estonia unit after another report resurfaced about possible money laundering connected to Azerbaijan.
- “On the basis of the suspicion of possible money laundering or other illegal activities, we have decided to take another look at the situation in Estonia during the period leading up to 2014,” Danske General Counsel Flemming Pristed says in emailed statement
- “We have started various investigations to establish what exactly took place during that period and to learn from what happened then”: Pristed
- Bank has since 2014 ended all relationships with customers that were unable to document a legitimate purpose for maintaining an account in Estonia; has tightened procedures, controls “significantly”
- Danske is “cooperating fully” with authorities
- Danish FSA looks “with gravity at all cases, where Danish banks seem to be involved in money laundering. However, Danish law does not allow us to comment on individual cases," Deputy Director General Thomas Brenoe says in separate emailed statement
- EARLIER: Danske Bank Linked to Azerbaijan Money Laundering: Berlingske
- March 20: Nordea, Danske Linked to Money Laundering Cases: Berlingske
Alert: HALISTER1
Source: BFW (Bloomberg First Word)
Tickers
DANSKE DC (Danske Bank A/S)
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To modify this alert, click here
UUID: 7947283