Banking Law News

Denmark Investigates $4.4 Billion Linked to Danske Laundering

Jan. 28, 2020, 4:44 PM

Denmark’s public prosecutors are investigating flows of 30 billion kroner ($4.4 billion), which may be linked to Danske Bank A/S money laundering case, newswire Ritzau reported, citing court documents.

The funds may have been channeled through Danske’s now-closed Estonian unit by Danish companies in the period 2008 to 2016, the newswire reported. Police have charged a Lithuanian woman who resides in Denmark, according to Ritzau. The money may have been generated from illegal activities, it said.

In 2018, Danske admitted that a large part of roughly $230 billion that flowed through its Estonian unit may need to be treated as...

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