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An internal report by Danske Bank revealed that “non-resident” clients had funneled around €200 billion through its Estonian branch between 2007 to 2015. Much of that cash was “suspicious,” the report said.
The revelation triggered a response from the Commission’s Justice chief Vĕra Jourová, who sent a letter to the European Banking Authority’s chairman, Andrea Enria, demanding he investigate the two national watchdogs.
“The Commission … calls on the European Banking Authority to make full use of the power to investigate this possible breach or non-application of Union law both by the Estonian as well as the Danish supervisors,” Jourová wrote.
This is the second time in three months that Jourová has requested the EBA to probe the actions of national dirty money watchdogs. The Czech commissioner made a similar request when U.S. authorities charged the chairman of Malta’s Pilatus Bank with money laundering and bank fraud.