Danske Bank, Denamrk's largest bank is now under the investigation due to its operations in Estonia. Which offered until 2015 banking services at its Estonia branch to residents of other countries. Those operations have now embroiled the Copenhagen-based lender in biggest money laundering scandal in the region.
Many of these non-resident clients of the Danske Bank's Estonian branch were from high-risk countries, such as Russia, Moldova and Azerbaijan. It is alleged that they have been involved in laundering more than $50 billion in last few years.
Danske had indications of possible wrong-doing but only began terminating business with non-resident account holders after it got a report in 2013 by a whistle blower; it also began its own investigations
Posted from http://giccp.com/danske-bank-is-being-investigated-by-estonian-authorities/
@asmi140 it is quite surprising to see the name of denmark and their largest bank in thr financial scams. The country is otherwise very cool and they love to be transparent in the dealings. They are also counted as one of the lesser corrupt countries in the world.
Great post!
Thanks for tasting the eden!
Denmark or copenhegan is a rarest country which is nominated as one of the least corrupt corrupt countries identified by transperancy international, transnational body ranking the countries on corruption perception index. These type of news would make the sea change in perception
@markchu i am happy that you are taking interest in the Denmark and its corruption related developments. Long way to go. Though the country is ethical and have strong moral values, rest of the world is not honest and Danske is classic example that it would not be allowed to expand internationally
@asmi140 the danish authorities seem to have launched the investigation and they are receiving more complaints from the police. They have claimed that its the failure of the AML and ABC controls. You can refer https://www.complianceweek.com/news/news-article/danske-bank-case-illustrates-poor-anti-money-laundering-practices#.W3HN5s4zbIU
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