Danske Bank, the largest bank in Denmark, agreed to plead guilty to fraud and paid $2 billion to settle long-standing anti-money laundering and fraud violations stemming from its banking operations in Estonia. Danske Bank...more
Danske Bank: “If we’re going down, you’re coming with us.” - First Post in a Two-Post Series - On March 19, 2020, Swedbank received the first of what will likely be multiple sanctions regarding alleged deficiencies in...more
Q1/ Applicable legislation - (a) Have the requirements of the GDPR been addressed by introducing a new law, or by updating existing legislation? Old legislation has been updated in addition to new legislation being...more
Authorities Begin to Focus on Individual Responsibility - This week, Danish prosecutors charged Thomas Borgen, the former chief executive officer of Danske Bank, for his involvement in the money laundering scandal arising...more
More Allegations of Nordic Malfeasance Surface as Private Party Lawsuits Beset Danske Bank and SwedBank Gets Sucked into Unfolding Scandal....more
Danske Bank is likely to again become the target of a formal investigation in France. A Paris court began investigating Danske Bank in October 2017 in relation to transactions of its Estonian branch, between 2008 and 2011,...more
Earlier this month, Danske Bank A/S – Denmark's largest bank – announced that the United States Department of Justice ("DOJ") has initiated a criminal investigation relating to the bank's Estonian branch....more