Danske Bank not alone in world’s biggest laundering scandal
Other Nordic banks are being implicated in being a central causeway for former Soviet money-launderers to channel their funds into the West
Copenhagen — It seems increasingly clear that Danske Bank was far from alone in its involvement in one of the world’s biggest money-laundering scandals. Karsten Dybvad, the chair of Denmark’s largest lender, says he hopes the $230bn dirty-money saga that has engulfed Danske doesn’t end up being even bigger. “But we can see in other banks that there are indications others are involved,” he said in an interview in Copenhagen. “So we’ll have to see.” In the Nordic region, allegations of money-laundering have also hit Swedbank and Nordea Bank. Bill Browder, the Hermitage Capital Management co-founder who has brought criminal charges against all three banks, says the Danske case may represent just a quarter of the total illicit flows from Russia into the West. Dybvad says there are still unanswered questions as to where the dirty money ended up. “We’ll see what will happen in the future about that.”
Danske, which faced shareholders for its AGM on Monday, is still dealing with the f...
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