EBA ends probe of Estonian, Danish regulators over Danske Bank

epa07031518 (FILE) - An exterior view of Danske Bank building in Tallinn, Estonia 25 March 2017 (reissued 19 September 2018). Thomas F. Borgen has resigned as a result of an alleged money laundering scandal, Danske Bank said in a stock exchange announcement on 19 September 2018. According to reports, Borgen has resigned ahead of an internal report into alleged money laundering via the bank's branch in Estonia. EPA-EFE/VALDA KALNINA

Reading Time: < 1 minute

The European Banking Authority (EBA), the EU banking watchdog, terminated an investigation of financial regulators in Estonia and Denmark in relation to suspected money laundering activities by Danske Bank after it did not find any breach of EU law.

The news was announced by the Estonian Financial Services Authority.

The EBA in February said it had opened a formal investigation into a possible breach of EU law by Estonian and Danish regulators.

Denmark’s largest bank Danske Bank, has admitted that 200 billion euros ($226 billion) of suspicious transactions flowed through its Estonian branch between 2007 and 2015.

Via Reuters


%d bloggers like this: