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The Wall Street Journal: U.S. probes Danske Bank over money laundering allegations involving Russia

U.S. regulation enforcement agencies are probing Denmark’s largest bank over allegations of huge money laundering flows from Russia and former Soviet states, in keeping with an individual familiar with the topic and paperwork reviewed by means of The Wall Street Journal.

The Justice Department, Treasury Department and Securities and Exchange Commission are each analyzing Danske Bank after a confidential whistleblower complaint was once filed to the SEC more than two years ago, the individual acquainted stated. The probes are ongoing and associated with transactions at Danske’s DANSKE, -2.79%  tiny Estonian department over several years via 2015. The Journal reported previous this month that the bank is studying $150 billion that flowed via accounts of non-Estonian account holders at the department.

The whistleblower complaint known Deutsche Bank AG DBK, +zero.13%  and Citigroup Inc. C, +zero.73%  , each overseen by means of U.S. regulators, as involved with transactions into and out of Danske Bank’s Estonian department. Deutsche Bank acted as a correspondent bank for Danske, dealing with dollar wire transfers. Citigroup’s Moscow workplace was once interested in one of the transfers via Danske Bank’s Estonian department, the individual familiar with the probes stated.

A spokesman for Danske stated the bank frequently talks to regulators. “However, as a general rule, we don't comment,” the spokesman stated.

An expanded model of this report seems at WSJ.com.

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