Danske Bank CEO resigns over money laundering scandal

The chief executive of Denmark's largest lender, Danske Bank, resigned yesterday as the institution said it was unable to determine how much money was laundered through its Estonian branch, reports AFP from Copenhagen.

The announcements came days after the Wall Street Journal reported that Danish investigators were probing transactions of up to $150 billion "from companies with ties to Russia and the former Soviet Union" that transited Danske Bank's Estonian branch between 2007 and 2015.

In early August, the state prosecutor's office for serious economic and international crime said the bank was being investigated and prosecutors would decide whether to press charges.

The bank meanwhile tasked an independent legal firm to conduct an investigation of its own.

 

Danske Bank CEO resigns over money laundering scandal

The chief executive of Denmarks largest lender, Danske Bank, resigned yesterday as the institution said it was unable to determine how much money was laundered through its Estonian branch, reports AFP from Copenhagen. The announcements came days after the Wall Street Journal reported that Danish investigators were probing transactions of up to $150 billion from companies with ties to Russia and the former Soviet Union that transited Danske Banks Estonian branch between 2007 and 2015. In early August, the state prosecutors office for serious economic and international crime said the bank was being investigated and prosecutors would decide whether to press charges. The bank meanwhile tasked an independent legal firm to conduct an investigation of its own.