Denmark’s biggest bank faces money laundering charges

money laundering

Denmark’s top prosecution authority says it has filed preliminary charges against the country’s biggest bank for alleged “violation of the laws on money laundering”.

Morten Niels Jakobsen, the prosecutor for international economic crimes, said that despite the initial charges against Danske Bank, his office is “still at an early stage” of its investigation.

In Denmark, preliminary charges are a step short of formal charges.

Danske Bank admitted in September that some 200 billion euro (£176 billion) had flown through accounts at its Estonian branch from 2007 to 2015, following reports of transfers from family members of Russian President Vladimir Putin.

Its interim chief executive, Jesper Nielsen, said Wednesday: “It is in our interest that the case is fully investigated,” adding the bank would co-operate.