Are you in compliance?

Don't miss out! Sign up today for our weekly newsletters and stay abreast of important GRC-related information and news.


Status message

Start your free, no obligation 5-day trial to continue exploring with full access.

Danske Bank under investigation in France over money-laundering saga

Neil Hodge | February 15, 2019

When Danske Bank was placed under formal investigation in France again over suspected money laundering at its Estonian branch, EU lawmakers said tougher action needs to be taken to stop the dirty flow of money through Europe’s banks.

On 7 February, Danske Bank announced that—for a second time—a French judge has decided the bank should be formally investigated for suspected money-laundering transactions worth €21.6 million (U.S. $24.4 million) committed between 2007 and 2014.

Prosecutors in Paris accuse Danske of having helped launder proceeds from tax evasion through transactions carried out in France and “in particular in Estonia and in Luxembourg.”

According to the charges, as published by Danske, the bank aided laundering “by investing, concealing, or converting the direct or indirect proceeds of offenses, by opening fictitious pass-through accounts...

Read this single article for $49, or click the subscribe button below to review subscription options.

Enjoy unlimited access to thousands of articles, browse five years of digital magazines, qualify for reduced admission to events, and more.