Featured Denmark

Deutsche Bank hit by new laundering report; shares slide again

Deutsche Bank (DBKGn.DE) defended its record in fighting money laundering on Thursday after the Financial Times reported it had processed 31 billion euros ($35 billion) more in questionable funds for Danske Bank (DANSKE.CO) than previously thought. A Deutsche Bank spokesman declined to comment on the FT article. He said, however,… Read More

Danske Bank charged over money laundering, failed on PEPs, beneficial ownership

Denmark’s top lender has been formally hit with charges of violating numerous financial crime controls, including failings on source of funds, beneficial ownership and politically exposed persons (PEPs). On Wednesday, the Danish State Prosecutor for Serious Economic and International Crime (SØIK) published its charges against Danske Bank, outlining its failure… Read More

Wary whistleblower casts light on dark Danish drama

When Howard Wilkinson was given a tablet as a gift from a client and his boss did not respond to questions about what he should do with it, the Briton sold it and donated the proceeds to the Tallinn Childrens’ Hospital in Estonia. The former banker-turned whistleblower then handed the… Read More
7th December 2018
Deutsche Bank (DBKGn.DE) defended its record in fighting money laundering on Thursday after the Financial Times reported it had processed 31 billion euros ($35 billion) more in questionable funds for Danske Bank (DANSKE.CO) than previously thought. A Deutsche Bank spokesman declined to comment on the FT article. He said, however,… Read More
6th December 2018
Anti-money laundering (AML) expert Denis O’Connor looks at some of the main points raised at an EU Parliament hearing by Danske Bank whistelblower Howard Wilkinson, and recommends AML and compliance professionals take note of the issues discussed. The €200 billion Danske Bank money laundering scandal is considered to be the… Read More
3rd December 2018
A money laundering scandal at Danske Bank (DANSKE.CO) involving billions of euros of suspicious flows is serious enough to potentially affect the country’s financial stability, the central bank warned on Friday. Denmark’s state prosecutor filed preliminary charges on Wednesday against Danske Bank, Denmark’s largest lender with a balance sheet 1-1/2… Read More
29th November 2018
Denmark’s top lender has been formally hit with charges of violating numerous financial crime controls, including failings on source of funds, beneficial ownership and politically exposed persons (PEPs). On Wednesday, the Danish State Prosecutor for Serious Economic and International Crime (SØIK) published its charges against Danske Bank, outlining its failure… Read More
28th November 2018
When Howard Wilkinson was given a tablet as a gift from a client and his boss did not respond to questions about what he should do with it, the Briton sold it and donated the proceeds to the Tallinn Childrens’ Hospital in Estonia. The former banker-turned whistleblower then handed the… Read More
20th November 2018
Top Western banks are alleged to have processed the bulk of the $234 billion tranche of suspicious transactions central to Danske Bank’s money laundering affair, which has stirred much controversy in the European banking world. On Monday, whistleblower and former Danske Bank employee Howard Wilkinson told Danish lawmakers that a… Read More
15th November 2018
Danske Bank’s (DANSKE.CO) 200 billion euro ($225 billion) money laundering scandal might be the “tip of the iceberg” and investigators should examine whether major Western banks played a role, a lawyer for the whistleblower said. Stephen Kohn, a partner at U.S. law firm Kohn, Kohn and Colapinto who is representing… Read More
6th November 2018
Denmark’s tax minister has asked the Danish Financial Supervisory Authority (FSA) to investigate whether Danske Bank, Nordea and SEB have handed over all relevant material in a $2 billion tax probe. The tax ministry says it needs more information from the banks in order to advance its investigation into the… Read More
31st October 2018
A deal between Deutsche Bank and Mexican bank Accendo Banco that had stalled over money laundering allegations will not proceed although the accusations have been dropped. According to Reuters, Deutsche is planning to scrap an agreement to sell its Mexican assets to Accendo, but has not give an explanation, saying… Read More
26th October 2018
The European Union should set up a new agency to counter money laundering after a series of high-profile cases at banks bared weaknesses in the system, an influential think-tank said in a report, urging full disclosure of fines imposed on wrongdoers. Over the last months, lenders in Denmark, Estonia, Latvia,… Read More
Must Read

Iran courts jail 30 men for economic crimes after public outcry

Fast-track courts set up in Iran to fight economic crime have jailed 30 men for up to 20 years each, the judiciary said on Sunday, as the country faces renewed U.S. sanctions and a public outcry against profiteering and corruption. The new Islamic revolutionary courts — whose rulings cannot be… Read More

Police arrest over 200 fake-cash ‘customers’ after counterfeit money agent jailed

Law enforcement agencies across Europe have taken action against suspects who bought counterfeit euro banknotes on illegal platforms on the Darknet. In total, almost 300 house searches were conducted in 13 different countries and 235 suspects were detained. Law enforcement also seized around 1 500 counterfeit euro banknotes. Read More