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Danske Regulators Didn't Live Up to Obligations, EBA Staff Found

Danske CEO To Step Down As Estonian Flows Seen At $234 Billion
Photographer: Freya Ingrid Morales/Bloomberg
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Danske Bank A/S’s regulators in Denmark and Estonia failed on a number of counts to live up to their obligations in upholding European Union law intended to fight money laundering, according to a document seen by Bloomberg.

The contents of the draft report are in contrast to official statements published on April 17. The European Banking Authority said then it was closing an investigation into the financial supervisory authorities of Estonia and Denmark after the EBA’s board rejected a proposal for a breach of Union law recommendation.