EXECUTIVE SUMMARY: Denmark’s largest bank, Danske Bank, has admitted that its Estonian banking subsidiary has been involved in what is probably the largest dirty money-laundering scandal in Europe’s history. In recent years, this deeply corrupt bank has boycotted several Israeli companies on “ethical grounds.” Israel should use the Danske Bank case as a key example of fraudulent anti-Israeli moralists. Revelations from further investigations into the bank’s misbehavior will likely result in many additional disclosures in years to come.
Somewhat surprisingly, Denmark has provided an example of a huge, morally corrupt, anti-Israel, BDS-promoting body. It was far more probable for such an organization to come to light in Norway or Sweden, where there are many more anti-Israel inciters.
It has recently become known that Denmark’s largest banking group, Danske Bank, has been involved for years in a vast dirty money-laundering scandal. This criminal activity was conducted by its subsidiary in Estonia between 2007 and 2015. The amount of money transferred abroad and being currently investigated is a staggering $234 billion. The bank estimates that a significant proportion of these payments was suspect.
Fifteen thousand accounts were reviewed. Of these, 6,200 had the most risk factors. The customers involved were primarily Russians and other Eastern Europeans non-resident in Estonia.