Danske Bank's Final Estonia Settlement

Niall Hearty outlines the ending of the last investigation into the Danish bank's money laundering scandal in Estonia.

Danske Bank is to pay a 6.3 million euro settlement to French authorities over its massive money laundering failings at its now-closed Estonia branch.

The settlement brings to an end the French investigation into Danske Bank's activities in Estonia. It was the last investigation to be completed into Danske's handling of non-resident accounts at the branch in Tallinn.

In 2018, Danske revealed that more than $230 billion had flowed from Russia and other former Soviet states through the branch. It said that many of the transactions were likely to be illegal, which led to intense scrutiny of the branch's activities. The scandal broke out after a former trader told Danske's Copenhagen head office about suspicious activities taking place in the Estonian division.