Jimmy Baikovicius
The Department of Justice reported that Danske Bank, the largest bank in Denmark, has agreed to pay US$ 2 billion to the American authorities to resolve claims that it withheld information about its "high-risk customers," particularly those from Russia, from American colleagues.
The authority claims that Danske Bank had misled US banks about the clients of its Estonian subsidiary and the anti-money laundering practices used in it by citing court records.
The press release reads, "Danske Bank A/S (Danske Bank), a multinational financial organization with headquarters in Denmark, pleaded guilty today and agreed to forfeit $2 billion to end the U.S. investigation into Danske Bank's fraudulent operations against U.S. banks."
Authorities in the United States claim that the bank's actions were intended to give "high-risk customers of Danske Bank Estonia who resided outside of Estonia, notably Russia," access to the American financial system.
source: cnn.com
The authority claims that Danske Bank had misled US banks about the clients of its Estonian subsidiary and the anti-money laundering practices used in it by citing court records.
The press release reads, "Danske Bank A/S (Danske Bank), a multinational financial organization with headquarters in Denmark, pleaded guilty today and agreed to forfeit $2 billion to end the U.S. investigation into Danske Bank's fraudulent operations against U.S. banks."
Authorities in the United States claim that the bank's actions were intended to give "high-risk customers of Danske Bank Estonia who resided outside of Estonia, notably Russia," access to the American financial system.
source: cnn.com
