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Danske Bank Fined $2b for Defrauding US Banks

by Starling Insights

Starling Insights Editorial Board

Dec 22, 2022

Observations

Governance, Audit & Regulatory Failures The Era of Accountability AML/CFT US SEC US DoJ USA Culture & Conduct Supervision Culture & Consequences Culture & Misconduct

Danske Bank has agreed to pay a $2 billion penalty and pleaded guilty to defrauding US banks in one of the biggest money laundering scandals in recent years.

“We offer our unreserved apology and take full responsibility for the unacceptable failures and misconduct of the past, which have no place at Danske Bank today,” Danske Chair Martin Blessing said. He added that the group has “taken the steps necessary” to help prevent similar failures from happening in the future.

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Danske Bank Fined $2b for Defrauding US Banks

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