ZURICH (Reuters) – Swiss watchdogs are looking into whether local banks handled billions of euros that may have moved to Switzerland through the Estonian branch of Denmark’s Danske Bank <DANSKE.CO>.
“We are addressing the question of whether and how Swiss institutions are involved in the current case of Danske Bank and how money laundering regulations were observed,” the Financial Market Supervisory Authority (FINMA) said in an email on Friday.
Danske Bank’s CEO resigned this month after an inquiry revealed that 200 billion euros (206 billion pounds) of payments, many of which the bank said were suspicious, had been moved through its Estonian branch over eight years. Six percent of the money flowed to Switzerland, a report by a law firm found.
(Reporting by John Miller, Editing by Michael Shields)