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Danske Bank to release results of Estonia money laundering probe Sept. 19

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Danske Bank to release results of Estonia money laundering probe Sept. 19

Danske Bank A/S said the investigations into a portfolio of nonresident customers at its Estonian branch are being finalized, with the conclusions expected to be published Sept. 19.

The Danish banking group has been dogged by allegations of money laundering at its Estonian branch, resulting in tighter regulatory and legislative scrutiny in Denmark, Estonia and the wider EU. Around $150 billion worth of transactions reportedly flowed through the accounts of the branch between 2007 and 2015, much of it from companies with ties to Russia and other ex-Soviet states.

The bank had previously said it would forgo profits made from potential illicit transactions at the branch when the scale of the issue is made clear.