Danish Regulator Seeks AML Probe Into EY Danske Audit
Law360, London (April 12, 2019, 12:04 PM BST) -- The Danish Business Authority announced Friday it has reported audit company EY to national prosecutors for failing to raise concerns about suspicious behavior when it audited Danske Bank, which has been hit by a money laundering scandal.
The authority began probing EY in October as money-laundering allegations surrounding Danske Bank A/S blew up. The lender is under investigation in multiple jurisdictions over more than €200 billion ($226 billion) in suspected illicit payments that flowed through its Estonian branch between 2007 and 2015.
EY is being investigated for its audit work in 2014 on the accounts of Denmark's largest bank. The regulator said Friday...
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