Danske Bank, Feds In Talks Over Money-Laundering Scandal
By Al Barbarino (April 28, 2022, 7:36 PM EDT) -- Danske Bank revealed Thursday that it is in "initial discussions" with U.S. and Danish authorities to resolve "the Estonia matter," a reference to what's regarded as one of the largest money-laundering scandals in history.
The Copenhagen-based bank said in a statement that the potential settlement and fines are "likely to be material," but it is not yet possible to estimate the timing or type of resolution.
The negotiations stem from a September 2018 revelation from the bank that an internal investigation found multiple money-laundering control failures between 2007 and 2015.
The bank said at the time that the lapses resulted in...
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