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Deutsche Bank confirms internal probe over Danske Bank scandal

Published 01/16/2019, 11:46 AM
© Reuters.  Deutsche Bank confirms internal probe over Danske Bank scandal
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  • Deutsche Bank (DE:DBKGn) (DB +7.6%) confirms it launched a second internal investigation into its role in the Danske Bank money-laundering scandal that occurred at Danske's Estonian branch, the Financial Times reports.
  • From 2007 to 2015, Deutsche Bank cleared more than €160B in its role as correspondent bank for Danske's tiny Estonian branch.
  • Germany's biggest lender quit as Danske's correspondent bank for that branch after internal controls started to flag an increasing amount of suspicious transactions.
  • Previously: Deutsche Bank handled about $150B of Danske's fishy funds: WSJ (Nov. 20, 2018)
  • Now read: Danske: A Contrarian Play Within The European Banking Sector With An Attractive Risk-Return Profile


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