Estonian Branch of Danske Bank is Accused for the Violation of Anti-Money Laundering Legislation

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The Danish Public Prosecutor made preliminary accusations against the Estonian branch of Danske Bank in violation of the national anti-money laundering legislation.

The consideration of the case involving the largest creditor of Denmark began in late summer. It is known that the bank is suspected of being involved in a large money-laundering scheme due to transactions in excess of billions of DKK.

It is worth noting that the value of the bank’s shares decreased by 50% compared with figures in March 2018. Nevertheless, experts believe that it is necessary to fear the intervention of the United States, since this may lead to a revocation of the license.

At the moment Danske Bank investors have spent more than 30 billion DKK on fines, and this situation has tightened national anti-money laundering legislation.

In general, the allegations are based on the fact that the main office is poorly informed about the actions of branches and is not able to properly train staff accordingly with AML and risk assessment compliance.