Newly Obtained Audit Report Details How Shady Clients from Around the World Moved Billions Through Estonia
Billions of dollars in dirty money flowed through Danske Bank’s branch in Estonia, an explosive 2014 audit revealed. The original report had never been made public, until now.
Key Findings:
- The audit report provides an inside look at tactics used to move money around the world without accounting for it — and shows how Danske turned a blind eye to them.
- Danske’s foreign clients frequently transferred huge sums around the world with only the vaguest of explanations.
- Bankers accepted documentation in languages they did not speak and failed to query absurd contracts, including one for a shipment of paint jars worth $1,000 each.
- Other clients listed addresses that did not exist, claimed to be sending massive quantities of goods to the middle of nowhere, and lent each other money on unclear pretexts.
- When one group of clients aroused suspicion for making huge transfers, the bank suggested to them that they leave, to avoid having to report them to authorities
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For the full report (OCCRP Website): Press Here
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by Holger Roonemaa and Oliver Kund, 12 March 2021, Published on OCCRP
