Dutch lender ING has agreed to pay authorities in the Netherlands a record €775 million after admitting to a litany of compliance violations that allowed criminals to launder hundreds of millions of euros, the country’s public prosecution service disclosed Tuesday.
The English trader who blew the whistle on suspicious accounts at Danske Bank's affiliate in Estonia accused the lender in testimony Monday of actively seeking to quash investigations into the $200 billion money-laundering scandal he helped uncover.
Danish Financial Supervisory Authority Director General Jesper Berg issued a statement announcing that the regulator has reopened its investigation into Danske Bank’s management and control relating to the money laundering issues in its Estonian Branch.
September 20, 2018
According to the memorandum translated into English by Danske Bank, the Danish Financial Supervisory Authority concluded that the bank could not be considered to be in compliance with all of the requirements of the Danish Act on the Prevention of Money Laundering and Financing of Terrorism.
March 16, 2016
The Danish Financial Supervisory Authority issued an assessment against the Copenhagen, Denmark-based bank concerning violation by its management and senior employees in maintaining adequate anti-money laundering controls at the Estonian branch.
May 3, 2018
The Netherlands and the Amsterdam-based bank entered into a settlement agreement that requires the financial institution to pay a €675 million fine and disgorge €100 million to resolve a criminal investigation into violations of the Anti-Money Laundering and Counter Terrorism Financing Act.
September 4, 2018