COPENHAGEN/LONDON (Reuters) – Danske Bank’s money laundering scandal spread on Friday to Britain where the National Crime Agency (NCA) said it is investigating the use of UK-registered companies.
Concern about the extent of possible money laundering involving Danske Bank’s Estonian branch is mounting and European Union Competition Commissioner Margrethe Vestager joined a growing chorus of calls for a clampdown on the billions of euros alleged to have been “washed” through several European banks.
“This is a giga scandal,” Vestager said, as Danske Bank’s already battered shares fell a further 3.9 percent.
Britain’s NCA said it was “aware of the use of UK registered companies in this case and has related on-going operational activity”, adding that the threat posed by the use of UK-registered companies for money laundering was “widely recognized” and that Britain was working to restrict it.
Authors: Teis Jensen, Pamela Barbaglia