Prosecutor Jens-Christian Bülow noted in the press release that the fine “is the largest ever imposed in Denmark in the area of money laundering.” It comes the day after the American procedure on the same file was settled against the payment of 2 billion dollars. According to him, it is extremely serious that a bank does not have the necessary corporate governance and internal controls in the area of money laundering and that it does not react properly and quickly to alerts concerning possible money laundering.”

Indeed, the financial institution recognized flaws that caused the laundering of around 200 billion euros between 2007 and 2015 through its Estonian subsidiary. Since then, it has invested heavily in complying with the legislation in force in the field. In addition to the fine, the Danish state confiscated profits of 1.25 billion crowns (168 million euros) from transactions in the Estonian subsidiary, which is now closed, as well as those in the other Baltic countries and the Russian subsidiary.