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Danske Bank pleads guilty to banking fraud in Estonia

USA (bbabo.net), - The US Department of Justice announced that Denmark's largest Danske Bank has pleaded guilty to banking fraud in Estonia. The bank agreed to pay $2 billion as part of the settlement, writes err.ee.

In a statement, Danske Bank admits to defrauding US banks between 2008 and 2016. At the same time, the Estonian branch of the bank served non-residents who also came from Russia.

According to the US Attorney's Office, "the bank's branch in Estonia lured customers by allowing them to transfer large amounts of money without much control." According to Reuters, "in this way, Russia and other high-risk clients gained access to US banks."

The US Department of Justice stated that "Danske Bank was aware of the illegal transactions as early as 2014." US authorities have investigated the bank's activities in several countries, including the UK, Denmark and Estonia.

Recall that this case was widely discussed in Estonia several years ago. The Estonian prosecutor's office also launched a case against Danske Bank - it was initiated on the basis of a statement by US financier William Browder. As a result, the bank left the Baltic states.

Danske Bank pleads guilty to banking fraud in Estonia