Danske Bank Braces For Formal AML Probe In France

Law360, London (January 11, 2019, 12:25 PM GMT) -- French judges are preparing to launch a formal investigation into scandal-hit Danske Bank over approximately €28 million ($32 million) of transactions that potentially violated France’s anti-money laundering legislation, the lender said on Friday.

Danske Bank said that it has been ordered to attend an interview at a Paris court as it investigates potential AML failures at the bank between 2007 and 2014. The Danish lender has been embroiled in a money laundering scandal in which its Estonian branch allegedly helped clients transfer up to €200 billion through the bank, much of which is believed to have been suspicious.

The lender was...

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