Danske Bank on Saturday announced it received a no-action letter from the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) regarding an investigation at the bank’s infamous Estonian branch.
The closure of the probe does not preclude OFAC from taking future enforcement action if warranted, the bank stated. Of note, Danske’s Estonia operations are still under investigation by authorities in Denmark; France; and the United States, including the Department of Justice and Securities and Exchange Commission representing the latter.
