Deutsche Bank May Have Been Key in Stalling Danske's Laundromat

Even while caught up in its own suspect transactions in Russia, Deutsche Bank AG may have helped curb the flow of illicit billions through Danske Bank A/S’s branch in Estonia.

Deutsche Bank started rejecting individual dollar transactions going through Danske’s branch in Tallinn in 2014, and completely withdrew its services a year later, according to a person familiar with the matter, who asked not to be named because the information isn’t public. The decision was followed by a dramatic reduction in the level of non-resident flows, which peaked in 2013, according to information from a confidential report by Promontory Financial and published in the Berlingske newspaper.