Danske Bank To Spend $307M On AML Defenses Amid Probe

Law360, London (February 1, 2019, 12:06 PM GMT) -- Danske Bank announced Friday it will invest up to 2 billion Danish kroner ($307 million) to fortify its anti-money laundering defenses as it continues to grapple with investigations into murky transactions at its Estonian branch.

Denmark’s largest lender said it would spend the money over the next three years as it seeks to crack down harder on money laundering. The bank revealed in its annual report that approximately one in 100 of its retail customers has left the embattled bank because of the scandal.

“On the basis of learning from the Estonia case, and a general review of our efforts and...

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