Now the US’s SEC is investigating Danske Bank
The bank is already the target of criminal probes in Denmark, Estonia and France, and is being investigated separately by the US justice department
Copenhagen — Danske Bank says the US Securities and Exchange Commission (SEC) is now conducting an investigation into the Danish lender’s money-laundering case. The bank is already the target of criminal probes in Denmark, Estonia and France. It’s also being investigated separately by the US justice department, and is “co-operating with all relevant authorities in order to clarify the full details of the case,” it said in a statement on Thursday. Shares in the bank declined on the announcement, and traded as much as 5% lower in Copenhagen. News of yet another investigation comes as a $230bn scandal engulfing Danske continues to spread. Swedbank AB on Wednesday became the latest Nordic lender to be targeted by allegations of money laundering, wiping well over $5bn off its market value in less than two days. Though not a surprise, the SEC investigation adds to “uncertainty over potential fines, both US and domestic” and that uncertainty is probably “set to drag into 2020,” said Philip...
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