Compliance
Compliance Corner: Danske Bank
The latest compliance issues in wealth management across Europe, Middle East and Africa.
Danske
A French investigatory judge has summoned scandal-hit Danske Bank to talks to
discuss a probe into money laundering, saying it intends to put
the lender under a formal inquiry.
Danske, the subject of an investigation into possible breaches of
French AML rules in a period from 2007 to 2014, said a judge of
the French Tribunal de Grande Instance de Paris court has
demanded an interview over the matter.
The Copenhagen-based bank is accused of being involved in a major
AML scandal in the Baltic region. Already, senior executives have
resigned from the bank, and the organisation has set
aside capital to cope with expected punishments. The saga
adds to other money laundering scandals that have broken out in
Europe and other parts of the world, prompting calls from
policymakers for tougher measures.
Danske said it will inform markets, as it has before, if the
talks with the French judge cause a change to its legal status.
It declined to comment further.
