Shameful September as Money-Laundering Woes Dog Europe's Banks
- Danske Bank CEO toppled by growing Russian laundromat scandal
- Deutsche Bank gets a monitor while Swiss deal with past sins
A cyclist passes a Danske Bank A/S bank branch in Copenhagen, Denmark.
Photographer: Freya Ingrid Morales/BloombergThis article is for subscribers only.
September was the month when long-running failures to stop money-laundering came back to bite some of Europe’s largest banks.
Regulators from Switzerland to the Nordic region and Germany reprimanded institutions for failing to do enough to prevent illicit money flows. While some paid for past misdeeds, others were chastised for continued shortcomings and even had monitors assigned to help prevent future missteps.