Denmark’s Danske Bank has been placed under investigation in a French court due to alleged money laundering by former customers of its Estonia operations.
The probe is related to transactions worth nearly €15m, which were carried out between 2008 and 2011. The bank said that it is cooperating with the authorities in the matter.
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Danske Bank group general counsel Flemming Pristed said: “The customers were part of the portfolio of foreign customers at Danske Bank Estonia (non-resident customers), and we have since then terminated all accounts in that portfolio.
“We are not presently in a position to say whether the amounts came from illegal activities, and we do not wish to comment on the specific case as long as it is being investigated.”
The bank said that the transactions are included in the bank’s ongoing investigation of its Estonian business from 2007 to 2015.
The probe was announced last month, where the bank admitted to major deficiencies in control and governance at its Estonian business.
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By GlobalDataThe investigation is being conducted by a newly set up Compliance Incident Team led by Jens Madsen, former head of Denmark’s intelligence agency.
