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BREAKING: Charges dropped against former Danske CEO Thomas Borgen; evidence fails to link him to ‘gross negligence’ related to €200BN scandal.

Premium April 30, 2021

Images: Thomas Borgen LinkedIn / L0919

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NEWS: US Treasury urges banks to flag student aid fraud

NEWS: US hits network of Iranian financier Zanjani with more sanctions

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NEWS: OCC denies Wise US banking licence, citing AML deficiencies

By Dan Byrne for AMLi

Charges have been dropped against a former Danske CEO in relation to his role in the bank’s multi-billion euro money laundering scandal.

Thomas Borgen led the international institution for five years from September 2013 to September 2018, resigning just as details of the scandal became known to the public.

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NEWS: US Treasury urges banks to flag student aid fraud

NEWS: US hits network of Iranian financier Zanjani with more sanctions

 Premium

NEWS: OCC denies Wise US banking licence, citing AML deficiencies

Regulatory Watch News

  • Treasury Further Dismantles Iranian Financier Zanjani’s Network

    US Department of the Treasury

    WASHINGTON—Today, the Department of the Treasury’s Office of Foreign Assets Control (OFAC) designatedfour individuals and nine entities that form key components of Babak Zanjani (Zanjani)’s broader Iranian sanctions evasion network.  Zanjani has leveraged a diverse portfolio—including financial services, gold and precious gem production, digital asset trading, and major transportation and infrastructure projects—to obscure ownership, launder revenue, and expand his capacity to move funds covertly through Iran and offshore.

  • FinCEN Issues Alert on Fraud Schemes Targeting Federal Student Aid

    FinCEN

    Today, the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) issued an Alert urging financial institutions to detect, prevent, and report suspicious activity connected to fraud schemes targeting student aid programs administered by the Federal government.

  • New guidance on verifying communications claiming to be from OFSI

    OFSI

    OFSI has published new guidance on how to verify whether communications claiming to be from OFSI are genuine. 

    The guidance provides information to help individuals verify communications claiming to be from OFSI, including signs that a communication may not be genuine and sets out what to do if you are unsure.  

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