March 25 2019
Something is seriously wrong with international banking regulation. In the recent big money laundering scandal Danske Bank in Estonia had processed €200bn, which is deemed a serious crime.
But why are all these intermediaries punished and not the actual culprits, the big state banks in Moscow that drive the illicit flows of money? Awaiting possible fines from the US Treasury, the stock prices of Danske Bank have fallen by half, and other Nordic banks involved, such as Nordea and Swedbank, have seen their stocks fall by one-fifth.