Danske CEO Says `I’m Sorry’ as Money Laundering Scandal Explodes

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May 4 2018

The chief executive officer of Danske Bank A/S has apologized for management’s failure to prevent criminals from using his firm to launder billions of dollars in illicit funds over several years.

The apology follows an unusually harshly worded public reprimand by the financial regulator. The Danish government said management’s failings were “unforgivable” and the central bank warned that the reputation of the whole country was at risk.