Denmark’s state prosecutor has dropped its investigation against Ernst & Young into whether the accounting firm violated anti-money laundering laws in connection with its audit of Danske Bank, the Danish Business Authority (DBA) announced Friday.
From 2007 to 2015, around €200 billion (U.S. $223 billion) flowed through the non-resident portfolio of Danske Bank’s Estonia branch, covering around 15,000 customers. An investigation commissioned by Danske Bank in 2017 concluded that most of the payments were “found to be suspicious.”
