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- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By Adrianne Appel2022-10-28T18:44:00
Danske Bank expects to pay a total of 15.5 billion Danish kroner (U.S. $2.1 billion) to U.S. and Danish authorities to settle allegations it overlooked more than $200 billion in dirty money laundered through its former Estonia branch.
An agreement with authorities is not final regarding what is considered to be one of the world’s largest money laundering scandals but close enough that the bank “can reliably estimate” the size of the penalties, Danske Bank Chief Executive Carsten Egeriis said in a statement accompanying the bank’s interim report for the first nine months of 2022 published Thursday.
The bank booked a provision DKK 14 billion (U.S. $1.9 billion) in the third quarter of 2022, Egeriis said. That activity “significantly impacted” the bank’s financial result for the nine months, with a net loss of DKK 9.2 billion (U.S. $1.2 billion).
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News and analysis for the well-informed compliance or audit exec.
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2022-12-13T19:09:00Z By Kyle Brasseur
Danske Bank reached final resolutions with U.S. and Danish authorities to settle allegations regarding widespread anti-money laundering deficiencies at its former Estonia branch.
2022-06-02T17:42:00Z By Jeff Dale
Danske Bank Chief Administrative Officer Philippe Vollot, who was promoted to the position from chief compliance officer in November, has resigned, the Danish bank announced.
2022-04-29T13:17:00Z By Kyle Brasseur
Danske Bank has entered “initial discussions” with U.S. and Danish authorities on resolution regarding one of the world’s largest money laundering scandals that took place at its Estonia branch.
2024-07-26T19:18:00Z By Jeff Dale
RTX Corp., the parent company of Raytheon, disclosed in a public filing it has reserved $1.24 billion to resolve legacy legal matters with the Department of Justice, Securities and Exchange Commission, and Department of State.
2024-07-26T15:51:00Z By Aaron Nicodemus
The U.K. Financial Conduct Authority issued a fine of $4.5 million (3.5 million pounds) against a U.K.-based subsidiary of crypto platform Coinbase for providing services to high-risk customers in violation of FCA rules.
2024-07-26T13:36:00Z By Adrianne Appel
Admera Health agreed to pay more than $5.5 million to resolve allegations first brought by two whistleblowers that it paid kickbacks to third-party contractors, the Department of Justice said.
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