Estonia: Danske Banks Money Laundering Probe Expands

11

 

The Estonia branch of Danske Bank’s money laundering probe has been expanded from 2 cases to more than 10 cases, concerned with suspicious transactions of about US$ 2 billion. The investigation of the two cases of suspicious transactions worth $300 million was still going on when the media released the story of large money laundering activities by the bank, which later sprung up investigations into 10 other cases. As a result of the on-going issue at the branch, the bank subjected 15,000 of its customers’ accounts, with an amount close to US$222 billion, to the investigation.

Previously in 2018, the bank admitted to risks associated with about 6,200 accounts of its customers, most of which were found suspicious, and from Russia, the Bank closed its branches in Baltics and complied investigators. The authorities are currently gathering information on offences committed in some countries in order to find leads in the investigation.