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
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
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
This week Danske Bank released a report detailing the results of its much anticipated internal investigation into allegations of money laundering perpetrated in its Estonian branch. ...more
As early as 2007 the Russian Central Bank warned Danske about suspicious activity. In the same year the Estonian banking regulator warned the bank about suspicious transactions. In 2009 an internal whistleblower alerted the...more