Bloomberg Law
June 10, 2019, 5:33 PM

ANALYSIS: Danske Bank, Swedbank, and Global AML Failures

Robert Kim
Robert Kim
Legal Analyst

The Egmont Group of Financial Intelligence Units (FIUs) has since 1995 coordinated the anti-money laundering (AML) efforts of countries worldwide. Another Egmont Group, a Danish media company, has since 1948 published Kalle Anka & Co., a bestselling Swedish magazine of Disney character comics starring Donald Duck (“Kalle Anka” in Swedish). So perhaps it was pre-destined that the eponymous and largest banks of Denmark and Sweden, Danske Bank and Swedbank, would become central to an international money laundering scandal that has made the international AML regime appear comically inept.

The ongoing investigations of Danske Bank and Swedbank have shocked ...

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