EBA Probes Denmark, Estonia Regulators Over Danske Scandal

Danske Bank’s €200bn money laundering scandal continues to escalate, with European authorities launching a probe into Estonia and Denmark’s handling of the affair just as the company pulls the plug on its entire Baltic and Russian operations.

Europe’s biggest ever money laundering case first sparked authorities’ attention in 2014, when Estonian supervisors began to suspect that rivers of dirty money were flowing through chiefly Russian offshore accounts held by Danske’s Estonian branch.

However, its eye-watering scale was not fully revealed to the public until last year.

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