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SEC started investigation into money laundering through Danske Bank

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SEC started investigation into money laundering through Danske Bank
February 22
13:00 2019

The case of the scandal with the Estonian branch of Danske Bank has already moved on. The SEC has launched an investigation into massive money laundering.

The investigation is being conducted in several European countries. Both the Ministry of Justice and the U.S. Securities and Exchange Commission (SEC) are conducting the investigation.

A temporary bank CEO Jesper Nielsen has commented that the complete picture isn’t clear yet. “We will help departments and authorities. Now it is quite difficult to predict the outcome of the investigation and its time frame”, said the top manager.

The Danske’s securities have lost almost half of the cost during the year. It is likely that the bank will be fined.

The former head of the Danish bank left his post after the hype with the laundering of large sums. Questionable operations were carried out through the Estonian branch. In the period from 2007 to 2015, more than 200 billion euros came through it. It is not clear yet where these funds came from.

Because of accusations and the international scandal, Danske ceased the operations in Estonia and other Baltic countries. Its representative offices were also closed in Russia.

After the scandal, the European countries began to pay more attention to the mechanisms and rules applicable to the financial sector.


The material was prepared with the participation of Katya Gordon,
a leading analyst of the brokerage company CT Trade

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