EU Justice Commissioner Vera Jourova has addressed recent revelations that Denmark’s biggest bank, Danske, via its Estonian subsidiary, had laundered €200 billion ($235 billion) of illicit Russian cash between 2007 and 2015.
Danske’s CEO Thomas Borgen resigned last week and Denmark’s business minister, Rasmus Jarlov, said he expected authorities to fine Danske 4 billion Danish kroner (€550 million), with hefty EU and US fines expected later. Ratings agency S&P said the sheer scale of the scandal had put the Danish government’s AAA credit grade at risk.
