Danske Bank A/S said its corporate probation with the U.S. Department of Justice has ended, marking the final step in resolving one of Europe’s biggest money-laundering scandals.
The scandal has “profoundly shaped our organization and transformed our culture,” Danske Chief Executive Officer Carsten Egeriis said in a statement Monday. All “formal processes” with the DoJ and regulatory authorities in relation to the non-resident portfolio at Danske Bank’s former Estonia branch are now complete, he said.
The end of the probation lifts a major overhang as Danske continues efforts to rebuild trust and demonstrate its strengthened risk and compliance framework. The ...
