August 28, 2021
The Danske Bank’s 200 billion euros ($235 billion) of suspicious transactions through its Estonian branch from 2007 to 2015 is the biggest money laundering scheme in history.
On August 25, 2021, “Danske Bank A/S (DANSKE.CO) and former top executives on Wednesday defeated an appeal in New York by shareholders claiming they were defrauded because the Danish bank allowed widespread money laundering at its former Estonian branch.”
Questions Need Answers
Though, the following are questions that need answers to help stakeholders avoid such schemes and learn the lessons they should learn.
1. Was Danske Bank alone in the money laundering scheme?
2. Who are the big banks that were mentioned in the 60 Minutes interview with the whistleblower who uncovered the scheme?
3. How did this happen and why?
4. Did not Danske Bank have an anti-money laundering policy?
5. Did not Danske Bank have internal control?
6. Did not Danske Bank apply KYC to its transactions with its customers and depositors?
7. Is Danske Bank a victim of a bigger corruption scheme?
8. Where were the regulators in Estonia, the EU, and the U.S.?
9. Where were the auditors?
