The Justice Department announced the bank’s guilty plea.
The U.S. Justice Department announced this week that Danske Bank, a global financial institution based in Denmark, agreed to forfeit $2 billion after pleading guilty to defrauding U.S. banks. The department reported the entity engaged in fraud “regarding Danske Bank Estonia’s customers and anti-money laundering controls to facilitate access to the U.S. financial system.“
“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,” said Justice Department’s Criminal Division Assistant Attorney General Kenneth Polite.
He continued, “Danske Bank accepted responsibility for defrauding U.S. financial institutions and funneling billions of dollars in suspicious and criminal transactions through the United States. As part of its guilty plea, Danske Bank will forfeit over $2 billion and implement significant changes to its compliance program and AML controls.”
As the Lord Leads, Pray with Us…
- For Assistant Attorney General Polite as he fills his role in the Criminal Division of the Justice Department.
- For wisdom for Attorney General Merrick Garland as he heads the Department of Justice.
- For administration officials as they seek to ensure financial compliance of foreign and domestic financial institutions.
Sources: Department of Justice
