Danish bank accepts forfeiting USD2B after pleading guilty
Date
12/14/2022 2:56:49 AM
(MENAFN) Denmark's Danske bank pleaded guilty to fraud versus US banks in a multibillion-dollar plan to access the American financial system, as stated by the US Justice Department on Tuesday.
Danske Bank accepted to forfeit USD2 billion to finalize the US' probes around Danske Bank Estonia’s customers as well as anti-money laundering controls.
The Justice Department stated that it is going to acclaim almost USD850 million in payments that Danske Bank made to solve linked parallel investigations by additional local and foreign authorities.
"Whether you are a U.S. or foreign bank, if you use the U.S. financial system, you must comply with our laws," Deputy Attorney General Lisa O. Monaco stated in an announcement. "Failure to do so may well be a one-way ticket to a multi-billion-dollar guilty plea."
"Danske Bank lied to U.S. banks about its deficient anti-money laundering systems, inadequate transaction monitoring capabilities, and its high-risk, offshore customer base in order to gain unlawful access to the U.S. financial system," according to Assistant Attorney General Kenneth A. Polite, Jr. of the agency’s criminal division.
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