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Charges dropped for six former Danske staff implicated in €200BN scandal; Danish state prosecutor says ‘no basis for indictment’

Premium January 8, 2021
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NEWS: Treasury reissues order requiring MSBs along US southwest border to report cash transactions

NEWS: US banks can alert customers to fraud without breaching SARs, says FinCEN

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NEWS: FATF says tackling $500bn global fraud epidemic is now its ‘highest priority’

Six former Danske Bank employees can breathe a sigh of relief as money laundering charges against them have been dropped by Danish prosecutors.

The six were implicated in the now-infamous Danske Bank scandal – a story which began to break in 2017 and revealed eight years of laundering through its Estonian branch valued at around €200 billion.

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Premium

NEWS: Treasury reissues order requiring MSBs along US southwest border to report cash transactions

NEWS: US banks can alert customers to fraud without breaching SARs, says FinCEN

 Premium

NEWS: FATF says tackling $500bn global fraud epidemic is now its ‘highest priority’

Regulatory Watch News

  • FinCEN, Agencies, Issue Joint Statement on Suspicious Activity Report Confidentiality Considerations Regarding Communications with Customers

    FinCEN

    Today, the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN), together with the Board of Governors of the Federal Reserve System (Federal Reserve), the Federal Deposit Insurance Corporation (FDIC), the National Credit Union Administration (NCUA), and the Office of the Comptroller of the Currency (OCC) (collectively, the Agencies), issued a joint statement to clarify that confidentiality requirements related to Suspicious Activity Reports (SARs) do not preclude banks from communicating with their customers regarding potentially fraudulent transactions and other suspicious activity or account closures. This statement does not alter existing Bank Secrecy Act (BSA) legal or regulatory requirements or establish new supervisory expectations.

  • INTERPOL meeting gathers law enforcement leaders to identify areas for enhanced cooperation

    Interpol

    CAIRO, Egypt – Police leaders from across the Middle East and North Africa (MENA) region gathered in Cairo for high-level discussions focused on strengthening international police cooperation and coordinating responses to the region's most pressing security challenges. Key agenda issues included the disruption of illicit supply chains, specifically those behind drug trafficking, human trafficking and migrant smuggling, as well as the combatting of money laundering and illicit finance.

  • Update to UK Sanctions List: Russia Regime

    UK Government

    Today, Wednesday 2nd September, the UK Government has amended the designations of 1 individual and 3 entities sanctioned under the Russia Sanctions Regime. Amended Individual:

    Name: Unique ID:
    Stanislav Bronislavovich KLEVITSKIY RUS2711
      Amended Entities:
    Name: Unique ID:
    GLENBROOK CORPORATION LIMITED RUS3245
    JOINT STOCK COMPANY TELEPORT BANK RUS3714
    JSC ALTAY INSTRUMENT-MAKING PLANT ROTOR RUS3490

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