Danske Bank acknowledges ‘major deficiencies’ in money laundering case


Danske Bank has admitted its deficient governance and risk prevention failed to prevent major money laundering at its Estonian branch.

An internal investigation, published today (September 19), found suspicious payments amounting to €200 billion ($234 billion) flowed through the bank’s Estonian branch between 2007 and 2015. Right after the publication of the report, chief executive Thomas Borgen resigned.

“There is no doubt that the problems related to the Estonian branch were much bigger than

To continue reading...

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here: