Danske Bank News & Case Updates: Global Money Laundering Scandal

Article: Danske Bank faces preliminary charges related to market abuse

By Isaf-Mgmt | June 25, 2021

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…

Article: Danske Faces Long Road Back as Fine From Probes Seen Hitting $1 Billion

By Isaf-Mgmt | March 18, 2021

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…

Article: Newly Obtained Audit Report Details How Shady Clients from Around the World Moved Billions Through Estonia

By Isaf-Mgmt | March 12, 2021

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…

Investor Update: ISAF-Danske Litigation October 2020 Client Update

By Isaf-Mgmt | October 20, 2020

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…

Article: Risk of money-laundering fine for Danske unchanged despite court victory in US

By Isaf-Mgmt | September 14, 2020

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…

Article: Danske Bank Is Reported to Police for Market Manipulation

By Isaf-Mgmt | June 11, 2020

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…

Article: Swedish rival rejected Danske Bank’s “pile of dirty customers”

By Isaf-Mgmt | May 1, 2020

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…

Article: KLP sues Danske Bank after scandal deals €12m blow to shareholding

By Isaf-Mgmt | January 28, 2020

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…

Article: Danske Sued by International Investors Over Money Laundering

By Isaf-Mgmt | December 29, 2019

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,…

Article: More Investors Sue Danske Bank for Alleged Money Laundering

By Isaf-Mgmt | December 27, 2019

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.…

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