Denmark’s largest bank says it is “in dialogue” with U.S. authorities regarding its Estonian branch after an internal report detailed a massive money laundering scandal involving its subsidiary in Estonia.
Danske Bank says the U.S. Department of Justice had asked for information in connection with a criminal investigation relating to the Estonian branch.
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Danske’s interim chief executive Jesper Nielsen said Thursday that the bank was “cooperating with the authorities investigating us,” adding “it is too early to speculate on any outcome of the investigations.”
Danske Bank’s probe was commissioned last year following reports that dirty money was flowing through the Baltic subsidiary, including from family members of Russian President Vladimir Putin.
The findings prompted Denmark’s financial regulator to reopen a probe and Danish prosecutors have started a criminal investigation.
