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EBA investigation linked to AML activities at Danske Bank

Jaclyn Jaeger | February 20, 2019

On 18 February, the European Banking Authority announced it has opened a formal investigation into a possible breach of Union law by the Estonian Financial Services Authority and the Danish Financial Services Authority in connection with money-laundering activities linked to Danske Bank, particularly its Estonian branch.

The commencement of the investigation follows a letter from the European Commission calling on the EBA to use its powers to examine whether there was failure by the Estonian and Danish competent authorities to comply with their obligations under Union law. Before formally opening the investigation, the EBA said it conducted preliminary...

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