Denmark: One of Denmark’s biggest banks reports on its Estonian shambles - Danske Bank’s money-laundering scandal

“THE bank has clearly failed to live up to its responsibility,” said Ole Andersen, chairman of Danske Bank, on September 19th. Well, indeed. The findings of an inquiry into the laundering of money, much of it from Russia, through Danske’s Estonian branch are sobering. The euro amount rinsed through the branch’s books runs to 12 digits and Danske missed chance after chance to stop the sluice. To no one’s surprise its chief executive, Thomas Borgen, has resigned.

Read more: Denmark’s biggest bank reports on its Estonian shambles - Danske Bank’s money-laundering scandal