Estonian Bank Enters Liquidation Over Money Laundering Case

6

October 1 2019

Denmark’s largest bank says its Estonian branch, which was involved in a 200 billion-euro ($220 billion) money laundering scandal, has entered liquidation after winding down banking activities in the Baltic country.

Frederik Bjoern, Danske Bank’s chairman of the liquidation committee, said Tuesday it “has now essentially closed all banking activities in Estonia,” as agreed with the Estonian financial watchdog in February.