March 3 2018
Today, the Danish FSA has issued its decision on Danske Bank’s management and control in the money laundering case at the bank’s branch in Estonia. The decision comprises eight orders and eight reprimands, and indicates the need for an increase in the bank’s capital requirement by DKK 5bn due to increased compliance and reputational risk.
The decision is based on the Danish rules on, inter alia, management and control, and therefore concerns the activities that have or should have been carried out by Danske Bank’s management in Denmark. The specific questions concerning the lack of anti-money laundering measures in the Estonian branch are the responsibility of the Estonian authorities.