Danske Bank could be fined $8 billion after its huge money laundering scandal, analysts say

Danske BankREUTERS/Ints Kalnins

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  • Danske Bank, Denmark’s biggest lender, has been rocked by a money-laundering scandal which may have involved $ 235 billion.
  • If the bank is found guilty of any wrongdoing it will likely face a significant fine.
  • One estimate suggests the fine could be as high as 53 billion Danish krone ($ 8.3 billion), while others believe somewhere in the hundreds of millions of dollars is more likely.
  • The bank has not yet been found to have done anything wrong, so a fine may not be levied at all.

The scandal surrounding the Estonian arm of Denmark’s biggest lender, Danske Bank, is one of the biggest in the financial sector in many years.

Danske Bank admitted on Wednesday that as much as $ 235 billion of transactions flowing through its Estonian branch between 2007 and 2015 may have been suspicious, and connected to potential money laundering.

See the rest of the story at Business Insider

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Post Author: martin

Martin is an enthusiastic programmer, a webdeveloper and a young entrepreneur. He is intereted into computers for a long time. In the age of 10 he has programmed his first website and since then he has been working on web technologies until now. He is the Founder and Editor-in-Chief of BriefNews.eu and PCHealthBoost.info Online Magazines. His colleagues appreciate him as a passionate workhorse, a fan of new technologies, an eternal optimist and a dreamer, but especially the soul of the team for whom he can do anything in the world.

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