The past three years have not been kind to Danske Bank. In 2017, Denmark’s biggest lender found itself at the center of allegations that have since given the organization the dubious honor of being responsible for the world’s third largest money-laundering scandal. No one has yet to put a final figure on just how much dirty money flowed through the bank’s Estonian operations, but €200 billion (U.S. $227 billion) is the amount often quoted—some 50 times what the organization originally thought.
Danske’s troubles are still far from over. The bank is subject to ongoing criminal and regulatory investigations in Denmark, Estonia, France, and the United States and faces nearly 300 separate legal actions brought by individuals and groups of investors seeking over $1 billion in damages. The bank intends to defend itself against all claims.
