Sunday, April 11, 2021

France probes Danske Bank over money laundering allegations


Danske Bank, which is embroiled in a major money laundering case linked to its Estonian branch, has been placed under formal investigation by French authorities, the bank said on Thursday.

Danske is already under investigation by authorities in Denmark, Estonia, Britain and the United States over suspicious payments totalling 200 billion euros ($229 billion) made through its Estonian branch between 2007 and 2015.

Danske said an investigation judge at Tribunal de Grande Instance de Paris was probing Danske due to alleged money laundering related to certain transactions in the terminated portfolio of Danske’s customers living outside Estonia.

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Danske said that the probe covered transactions worth around 21.6 million euros ($24.5 million) carried out between 2007 and 2014 and that it had been ordered to post 10.8 million euros in bail.

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