The Danske Bank scandal a few months ago raised an
uncomfortable question: does Europe have a money laundering
problem? The scandal followed Estonian bank Versobank and
Latvian lender ABLV, both accused of money laundering, fuelling
fears that money laundering is becoming a European endemic.
While not accused of money laundering directly, another bank,
Netherlands-based ING, was fined €775 million ($888.5
million approximately) for compliance failures.
The criminal investigation instigated by US authorities is
yet to be completed and the full realisation of Danske's
actions fully digested....