Danske Bank News & Case Updates: Global Money Laundering Scandal

COPENHAGEN, June 25 (Reuters) – Danske Bank said on Friday it had been charged with violating rules related to market abuse, after a criminal complaint filed by the Danish Financial Supervisory Authority (FSA) a year ago. The FSA had said Danske, which has been embroiled in a separate money-laundering scandal, had misinformed the market by…

It will be years before Danske Bank A/S is fully rehabilitated from the shock of one of Europe’s most spectacular money-laundering scandals, according to its chairman, Karsten Dybvad. Since admitting in late 2018 that a large part of the 200 billion euros ($238 billion) in non-resident cash that flowed through an Estonian unit was tainted, Danske has been…

Billions of dollars in dirty money flowed through Danske Bank’s branch in Estonia, an explosive 2014 audit revealed. The original report had never been made public, until now. Key Findings The audit report provides an inside look at tactics used to move money around the world without accounting for it — and shows how Danske…

On 27 December 2019, the institutional shareholder-driven coalition represented by the International Securities Associations and Foundations Management Company for Damaged Danske Investors (ISAF-Danske) made its first filing of a lawsuit against Danske Bank in the District Court of Copenhagen. Danske Bank in Estonia was used in connection with one on the largest money laundering schemes in history…

A U.S. judge’s decision to dismiss a securities fraud class action against Danske Bank A/S related to a large-scale money-laundering scandal may be a relief for Denmark’s largest lender, but it does not reduce the risk of a fine from U.S. or European authorities, according to legal experts. Nor is the decision likely to impact…

Denmark’s financial watchdog has reported Danske Bank A/S to police for violating regulations designed to protect investors from market manipulation. Denmark’s biggest bank routinely entered into agreements to buy or sell financial instruments without any change in ownership of the securities, the Financial Supervisory Authority in Copenhagen said on Wednesday. “Danske Bank has clearly had insufficient oversight…

Swedish rival rejected Danske Bank’s “pile of dirty customers”. Linked to drug dealing and arms smuggling Swedish money laundering report shows completely new and bleak details about Danske Bank’s money laundering case. Customers in the Estonian branch could be linked to harsh crime and were so suspicious that not even the competitor Swedbank, which has…

Norway’s Kommunal landspensjonskasse (KLP) has confirmed it has joined one of the many investor lawsuits now underway to seek compensation from Denmark’s biggest bank after a huge money-laundering scandal halved the value of its shares in two years. KLP is one of 63 plaintiffs in a writ submitted on 27 December 2019 in the Copenhagen…

A group of international investors managing trillions of dollars in assets has filed what it says is the first in a series of lawsuits against Danske Bank in connection with the money laundering scandal engulfing Denmark’s largest lender. The writ, which was filed on Friday in the District Court of Copenhagen by law firm Nemeth Sigetty Advokatpartnerselskab,…

COPENHAGEN — About 60 investors have sued Danske Bank for 1.5 billion crowns (£171.46 million) over alleged money laundering, their lawyers said on Friday, the third such case to hit Denmark’s biggest lender. Danske Bank said it would defend itself against the lawsuit and that it had no information about the timing of the case.…