Danish regulator sanctions biggest bank for Estonian money laundering
FSA chairman resigns as Estonian regulators fail to comment on allegations
Denmark’s financial services regulator has issued a series of sanctions against the country’s largest commercial bank for breaching anti-money laundering (AML) regulations in its Estonian subsidiary.
The Danish Financial Services Authority said on May 3 that Danske Bank’s Estonian subsidiary was in breach of Danish AML regulations, and that it had ignored possible crimes committed by its own customers.
FSA director Jesper Berg said the agency’s investigation had shown up “serious deficiencies
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