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Danske Bank in hot water again over money laundering allegations

Neil Hodge | July 9, 2018

The Estonian subsidiary of Denmark’s largest bank may have laundered more than double the amount of dirty money than first thought, according to reports.

Danish newspaper Berlingske reported that as much as DKr53bn (U.S. $8.3 billion) of suspicious funds are likely to have flowed through Danske Bank’s Estonian branch between 2007 and 2015. The bank had previously estimated that only DKr25bn of dubious money from sham companies in countries that included Russia, Azerbaijan, and Moldova had been funnelled through its Estonian operations.

In a statement, Anders Meinert Jørgensen, the bank’s head of group compliance, said it is “too soon” to draw any conclusions about the extent of potential money laundering in Estonia, which is “why we have not ourselves published figures or commented on speculations about potential amounts.”

Jørgensen, however,...

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