Europe's Dirty Money Machine Is a Lot Bigger Than First Thought
- Correspondent banks are drawn deeper into Danske Bank case
- Danske’s watchdog expects more banks to be probed in scandal
The headquarters of Danske Bank A/S stands in Copenhagen,
Photographer: Freya Ingrid Morales/BloombergThis article is for subscribers only.
As the Danske Bank A/S laundering scandal grows in scope, Denmark’s financial regulator now says it’s expecting other countries to investigate how their banks might have been involved.
In testimony to European lawmakers this week, a whistle-blower revealed that another seven banks, and countless shell companies, were involved in the $230 billion case. The list includes three correspondent banks, which Bloomberg and other media have identified as Deutsche Bank AG, JPMorgan Chase & Co. and Bank of America Corp.