Danske Bank braced for money-laundering fines of $2bn
Danske Bank believes it will cost about $2bn in fines to resolve one of the largest money-laundering scandals on record as it nears a solution with US and Danish authorities.
Denmark’s biggest bank said on Thursday that it would take an additional charge of DKr14bn ($1.9bn), taking the total provision to DKr15.5bn, as it hopes to reach agreement with the US Department of Justice, the US Securities and Exchange Commission and the Danish special crime unit by the end of the year.
“Danske Bank is now in a position to reliably estimate with a high degree of certainty the financial impact of a potential co-ordinated resolution with these authorities, at a total of DKr15.5bn,” the bank added.
This story originally appeared on: Financial Times - Author:Richard Milne
