EU banking watchdog probes regulators over Danske Bank

FILE PHOTO: Danske Bank sign is seen at the bank's Estonian branch in Tallinn, Estonia August 3, 2018. REUTERS/Ints Kalnins/File Photo - Copyright Ints Kalnins(Reuters)

By Reuters

Published on 19/02/2019 - 12:04•Updated 23/04/2024 - 21:51

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LONDON (Reuters) - The European Union's banking watchdog said on Tuesday it has opened a formal investigation into a possible breach of EU law by Estonian and Danish regulators regarding money-laundering activities linked to Danske Bank.

"On 18 February 2019, the European Banking Authority (EBA) opened a formal investigation into a possible breach of Union law by the Estonian Financial Services Authority (Finantsinspektsioon), and the Danish Financial Services Authority (Finanstilsynet), in connection with money laundering activities linked to Danske Bank and its Estonian branch in particular," the EBA said in a statement.