Danske Bank whistle-blower says he raised alarm four times
Whistle-blower Howard Wilkinson says ‘not only did the bank ignore the smoke detector, but the bank actively tried to switch it off’
A whistle-blower who uncovered a huge alleged money-laundering scheme at Danske Bank's Estonian branch, said at a Danish parliamentary commission hearing on Monday that he told his superiors four times about suspicious transactions but no action was taken. “It’s fundamentally unclear to me … why the executive board didn’t take action,” Howard Wilkinson, British former head of the lender’s market business in the Baltics, told members of the business, growth and export committee. More than 1.5-trillion Danish kroner ($235bn) transited through the Estonian subsidiary of Danske Bank from 2007 to 2015, according to a law firm that carried out a probe for Denmark’s largest lender.
Danske Bank has said it is impossible to say how much of the gigantic sum was dirty money, but admitted that many of the suspicious transactions could be “criminal”. Of the 15,000 or so accounts under investigation , which Danske Bank closed in 2015, 6,200 are considered to be suspicious and most have been...