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Danske Bank case illustrates poor anti-money laundering practices

Jaclyn Jaeger | August 9, 2018

Compliance and legal troubles at Danske Bank continue to escalate.

On Aug. 6, Denmark’s State Prosecutor for Serious Economic and International Crime (SØIK) announced it has initiated a criminal investigation against Danske Bank for possible money laundering violations related to suspicious transactions connected to the bank’s Estonian branch.

“Due to the very serious nature and scope of the case, we have followed the case for a long time,” State Prosecutor Morten Niels Jakobsen of SØIK said in a statement. The investigation has now progressed enough where SØIK can finally confirm that it has launched an investigation and is currently determining whether to bring criminal proceedings...

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