Estonia took the rare step Tuesday of shuttering the local affiliate of a foreign lender, ordering Danske Bank to close in response to "profound and material" violations of anti-money laundering rules that "seriously damaged" the Baltic nation.
Denmark’s financial regulator Thursday ordered the country’s largest lender, Danske Bank, to improve corporate governance processes after determining that senior executives repeatedly disregarded suspicions of large-scale money laundering operations at its branch in Estonia.
Estonian authorities have launched a criminal investigation into the local branch of Danske Bank after a U.K. financier accused the lender of laundering most of the proceeds of a tax fraud perpetrated by a Russian crime group and complicit government officials 12 years ago.
German prosecutors seize $52 million in criminal assets, jeweler in Austin, Texas allegedly laundered funds from Punjab National Bank fraud, and more, in this week's roundup.
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