Danske Bank acknowledges the seriousness of the issues identified in the CBI's investigation, which have been fully accepted by Danske Bank and are reflected in the publicity statement issued by the CBI today.
Danske Bank arranged for a third party to carry out a “lookback” review of transactions for the period 2016 to 2019. The outcome of the review exercise showed that financial crime risk for those transactions examined was very low, giving rise to only one Suspicious Transaction Report (STR) in relation to Irish Branch customers. Danske Bank has not identified that any financial loss was caused to our customers as a result of these issues.
The issues subject to this investigation were fully remediated by March 2019. The CBI has noted Danske Bank’s cooperation in the investigation of this matter.
Danske Bank deeply regrets and apologises for the matters which were the subject of this investigation. Danske Bank recognises the importance of effective AML procedures and takes its obligations under AML legislation and regulatory guidance very seriously. Danske Bank has allocated significant resources to ensure successful financial crime prevention, including 3,600 full time employees dedicated to fighting financial crime. Danske Bank will have spent approximately 12 billion DKK on maintaining and improving the overall financial crime risk management framework including AML controls between 2018 and the end of 2022.
Danske Bank
Contact: Helga Heyn, Head of Media Relations, tel. +45 45 14 14 00