Estonia Must Seek Damages for Danske Scandal, Justice Chief Says
- Justice ministry analyzing ‘all legal options,’ Reinsalu says
- Estonian PM Ratas pledges zero tolerance on laundering
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Estonia must seek compensation for damage to its reputation from one of Europe’s largest money-laundering scandals, which emerged from the country’s branch of Danske Bank A/S, Justice Minister Urmas Reinsalu said.
Danske is already subject to multiple criminal investigations, including by the U.S. Justice Department, and potentially faces billions of dollars in fines. A probe commissioned by Copenhagen-based Danske and published in September found that a large part of about $230 billion that flowed through a non-resident unit in Estonia from 2008 to 2015 was suspicious in origin.