Print this article

Compliance Corner: Danske Bank

Editorial Staff

6 January 2023

yesterday confirmed that it has pleased guilty to a US criminal charge of committing bank fraud.

As originally disclosed by the Copenhagen-based bank, the plea agreement contained agreed terms of sentencing including a forfeiture amount, it said.

On 16 December Danske reached final coordinated resolutions with the US Department of Justice, the US Securities and Exchange Commission and the Danish Special Crime Unit. This followed probes into failings and misconduct relating to the non-resident portfolio at Danske Bank’s former Estonia branch, as the bank said in its statement. (See a related article on compliance issues here.)

Danske Bank said it fully accepted the findings and unreservedly apologised.