May 3, 2018 / 7:38 AM / 10 months ago

Danish watchdog criticises Danske Bank over Estonian money-laundering controls

COPENHAGEN, May 3 (Reuters) - Denmark’s Financial Supervisory Authority (FSA) said on Thursday it had found “serious weaknesses” in Danske Bank’s governance after investigating management and senior employees as part of an anti-money-laundering probe into the bank’s Estonian branch.

“The case has uncovered serious weaknesses in the bank’s governance in a number of areas. On this basis, the Danish FSA finds that the bank is exposed to significantly higher compliance and reputational risks than previously assessed,” the FSA said in a statement. (Reporting by Stine Jacobsen; Editing by Mark Potter)

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