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Entries in Danske Bank (4)

Monday
Oct142019

Advice to Danske Bank: Confront reality

Following its involvement in one of the world's worst-ever money laundering scandals, Danske Bank's new CEO, Chris Vogelzang, has vowed to "strengthen the bank’s defense” and work to restore trust.

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Wednesday
May292019

When it comes to AML, doing better means seeing better

Once again, AML failures are shaking up the headlines. If the Danske Bank scandal wasn’t enough, at the beginning of March, the Organized Crime and Corruption Reporting Project showed how a series of offshore shell companies were used to move billions of dollars of private wealth from Russia to the West. Named the Troika Laundromat, after the Russian investment bank it was allegedly operated by, the scandal rocked the banking world.

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Monday
Sep242018

Danske Bank chief departs amid ‘biggest scandal’ in Europe

Former Danske Bank CEO Thomas BorgenThe CEO of Denmark's biggest bank resigned last week after an internal investigation found $235 billion in suspicious transactions at the bank's branch in Estonia.

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Wednesday
Sep052018

Martin Kenney: Big AML scandal points back to UK’s Companies House

Danske Bank appears to have been used to launder $8.3 billion between 2007 and 2015 on behalf of individuals and entities located in Estonia. The bank’s punishment so far? A "stern ticking off," as Bloomberg put it, and a request by Denmark's banking regulator to hold more capital.

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