U.S inquiry deepens Danske money-laundering crisis

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October 4 2018

Danske Bank faces a U.S. criminal investigation into a 200 billion euro ($230 billion) money laundering scandal at its Estonian branch which has rocked investor faith in Denmark’s biggest lender and forced its chief executive to quit.

Shares in Danske Bank have lost a third of their value this year on fears of a U.S. inquiry because of the potential for significant penalties such as fines or being frozen out of dollar funding.

Danske Bank said it had “received requests for information from the U.S. Department of Justice (DOJ) in connection with a criminal investigation relating to the bank’s Estonian branch”.