SEPTEMBER 5, 2017
Danske Bank has hired the former head of Denmark’s intelligence agency and fraud squad to help it in its effort to counter money laundering.
The announcement came on Tuesday after media reports that the bank’s Estonian branch had been exploited for money laundering and other illegal activities between 2012 and 2014.
Jens Madsen, currently working in the Danish Foreign Ministry fighting terrorism financing, will be responsible for the bank’s Compliance Incident Management handling the investigation of incidents where regulations and internal guidelines have possibly not been followed. He was formerly the head of the country’s intelligence agency and its fraud squad.