The largest bank in Denmark has accumulated money laundering charges of $ 150 billion

$ 150 billion could have been recycled by the largest Danish bank

The information gathered reveals that companies from Russia and some parts of the official Soviet trade unions now use Estonia as a piggy bank.

The conclusions on how things are done in the Estonian branch of the largest Danish bank have suggested that around 150 billion dollars have been investigated to have links to money laundering.

The financial investigators involved in the matter at Danske Bank (CPH: DANSKE), the largest bank in Denmark, are now examining a colossal sum of $ 150 billion of transactions that were made in the Estonian branch between 2007 and 2015.

It is possible that this entire fund was not obtained, however, is an indication that there is a possibility that the bank will be involved in money in Russia and other parts of Europe.

In 2017, sources in the Danish media reported that the allegedly recycled funds amounted to $ 3.9 billion. However, at the beginning of June, the figure rose from $ 8 to $ 9 billion.

Furthermore, FT has announced that around 30 billion dollars may be suspected of being recycled. As a result, the share price of Danske Bank witnessed a shock due to these results.

"Any conclusion should be made on the basis of verified facts and not fragmented information taken out of context," Danske Bank President Ole Andersen told the Wall Street Journal, which reported $ 150 billion. "As previously reported, it is clear that portfolio issues were larger than we had anticipated previously."

In Estonia, people involved in money laundering can suffer up to 10 years in prison, but companies involved in crimes of this kind could be ordered to pay 16 million euros as a penalty.

Meanwhile, the board of directors has stated that it will use money from suspicious transactions to obtain certain things in society, especially efforts to combat financial crimes.

The managing director of the bank, Thomas F. Borgen, at that time said: "It is still too early to draw conclusions on the scope of the issues, since the detailed investigations on the matter are still ongoing.

However, it is clear that we are not at the height of our company standards or expectations in general when it comes to preventing our Estonian subsidiary from being used for potentially illegal activities at the time these transactions took place. This is something we deeply regret and of which we should not benefit in any way financially. So we will not keep the income from these suspicious transactions, "CEO Thomas F. Borgen said at the time.