Danske Bank Watchdog Calls for EU Debate on Client Secrecy Rules
Frances Schwartzkopff, 07 May 2021
The financial watchdog overseeing Danske Bank A/S says the European Union needs to re-examine the limits of client privacy if it’s serious about fighting money laundering and other forms of financial crime.
Jesper Berg, the director general of the Financial Supervisory Authority in Copenhagen, says Europe must acknowledge that the current bias toward bank secrecy means “substantially more resources” are being spent on trying to catch illicit transactions. It also adds to the risk that there’ll be “some money laundering we won’t get at.” Continue reading “Article: Danske Bank Watchdog Calls for EU Debate on Client Secrecy Rules”
U.S. files lawsuit against Danske Bank, attorney says
Reuters, 20 April 2021
The United States of America and the Federal Retirement Thrift Investment Board (FRTIB) have filed a lawsuit against Danske Bank (DANSKE.CO) and its former CEO in the Copenhagen city court, according to the attorney representing the parties.
Shares in Danske Bank (DANSKE.CO) fell around 8% after the news, which was first reported by the business daily Borsen.
The suit is linked to Danske’s involvement in a major money laundering scandal, according to Borsen. Continue reading “Article: U.S. files lawsuit against Danske Bank, attorney says”