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“We are closely monitoring all information related to the possible involvement of Lithuanian financial institutions in money laundering. The Danish authorities are currently investigating the Danske Bank case and we are working with our colleagues in Denmark to ensure it is taken into account. it has all the necessary information for the evaluation, ”the Bank of Lithuania said in a comment to BNS.
Danske Bank’s chief compliance officer, Philippe Vollot, said on Friday that the bank acknowledges it was too late to respond to the scale of the issues and the need to address them.
At the same time, he emphasized that Danske Bank is now in a different position than it was in 2007-2015, with increased funding for compliance monitoring and investment in IT systems.
The authors of an international journalistic investigation reported Thursday that large amounts of money of dubious origin had been transferred through the Lithuanian branch of Danske Bank over the past decade. The investigation is based on leaked data from BuzzFeed News.
As a result of Danske Bank’s money laundering prevention gaps, the bank’s Estonian branch has been the most talked about so far. Following a money laundering scandal, Danske Bank decided last year to suspend banking in the Baltic countries.
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