Danske Bank has begun preparing for the repercussions it might face following one of the world’s largest money laundering scandals taking place at its Estonia branch.
The bank said in a company announcement Thursday it has entered “initial discussions” with U.S. and Danish authorities on resolution of the Estonia matter. Between February 2007 until the end of January 2016, Danske Bank failed to spot approximately 200 billion euros (U.S. $210 billion) of dirty money that flowed through the subsidiary undetected. The funds came from countries including Azerbaijan, Moldova, and Russia.
