Danske Fine May Be $670 Million as Analysts Look at New Evidence
- Bank said Wednesday its head of compliance is stepping down
- Denmark’s biggest bank is at center of historic AML scandal
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There are so far no charges or convictions, but analysts are already guessing how big a fine Danske Bank A/S might have to pay following allegations it became a major hub for money laundering in Europe.
A potential penalty could be as high as $4.7 billion or as low as $315 million, and estimates average out at $670 million, based on numbers submitted by five analysts. At least two of the analysts said it was possible Danske would avoid a fine altogether.