Tag: Danske Bank
Vogelzang, from the Netherlands, has held several management positions at Dutch Bank ABM AMRO.
Danske Bank is under investigation for suspicious transactions of some 200 billion euros that passed through its Estonian branch.
Half a year on, Danske Bank is still looking for a replacement CEO, as well as trying to restore confidence in the bank as it faces criminal investigations.
Kilvar Kessler says that the scandal is a serious blow to the transparency, credibility and reputation of the Estonian financial market.
Denmark’s biggest bank said that it’s been summoned for questioning by French authorities.
In his whistleblower report, Wilkinson described how the Estonian branch handled customers associated with top Russian politicians and companies based in Denmark.
The ratings agency downgraded its long-term deposit and senior unsecured debt ratings from A1 to A2.
The bank’s shares were dumped and some bondholders are even wondering whether Danske might start having trouble making interest payments.
A Danske Bank internal probe was unable to determine exactly how much of the money that passed through the branch between 2007 and 2015 may have been laundered.
Experts say the EU's efforts are simply no match for criminals who have seen through the lack of a centralised authority tasked with fighting fraud across the bloc.
The European Commission last week recommended banking supervision changes, including bolstering national authorities.
In early August, the state prosecutor's office for serious economic and international crime said the bank was being investigated and prosecutors would decide whether to press charges.
Jarlov told local media that the Danish Financial Supervisory Authority is opening a new investigation into the Danske Bank laundering scandal.