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COPENHAGEN (Reuters) – Danske Bank said on Wednesday it had reached an agreement with French prosecutors to end the latest in a series of investigations into suspected money laundering at a former branch in Estonia.
As part of this public interest judicial agreement (CJIP), the Danish bank agreed to pay 6.33 million euros to the French Treasury, including 6.02 million euros in fines and 300,000 euros in damages, thus ending proceedings opened in 2019.
“Subject to payment of the amount of the public interest fine, validation of the CJIP results in the extinction of public action against the company,” the National Financial Prosecutor’s Office (PNF) specifies in a press release.
Danske Bank has been under investigation since September 2018 after an internal review revealed around €200 billion in payments, many of which appeared suspicious, made through a now-closed Estonian branch.
In total, the group has already agreed to pay more than $2 billion since last year to end investigations in the United States.
“The alleged money laundering facts relate to the offence of tax fraud by an organised gang for which a natural person was himself convicted of money laundering on 9 January 2024 by the Paris Criminal Court,” specifies the PNF.
The financial impact of the resolution with the French authorities has already been provided for, Danske Bank said.
(Reporting by Anna Ringstrom; with contributions by Jacob Gronholt-Pedersen and Jason Neely; French version by Mara Vîlcu; editing by Augustin Turpin)
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