Skip to main content

No Action Letter received by Danske Bank A/S from the U.S. Department of the Treasury’s Office of Foreign Assets Control related to the Estonia case

Company Announcement No. 12/2020

Danske Bank A/S has been informed that the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) has decided to close its investigation of Danske Bank in relation to the Estonia case with no action. OFAC is the U.S. authority responsible for civil enforcement of U.S. sanctions. The decision does not preclude OFAC from taking future enforcement action should new or additional information warrant renewed attention.

As we have previously communicated, Danske Bank continues to be under criminal and regulatory investigations by authorities in Denmark, France and the United States, including by the Danish State Prosecutor for Serious Economic and International Crime (SØIK), the U.S. Department of Justice (DOJ) and the U.S. Securities and Exchange Commission (SEC).

The overall timing of completion and the outcome of the investigations by, and subsequent discussions with, the authorities remain uncertain. It also remains impossible to reliably estimate the timing, form of resolution, or amount of potential settlement or fines, which could be material.

Danske Bank

Journalists are also welcome to contact our Press Office by phone +45 45 14 14 00, day and night.