Danske Bank: What went wrong?


It is hard to imagine that after so much sectoral investment in combatting financial crime that a bank laundered hundreds of billions of euros over a 9-year period from 2007. The scandal rocked the banking industry. But how did it happen? What were the failures of people, process and technology that led to Europe’s largest money laundering scandal?

Insufficient knowledge of source of funds, no screening for PEPs and no screening of incoming payments against sanctions or terror lists are just some of the many explanations behind what went wrong at Danske Bank.

Read RiskScreen’s root cause analysis to learn more about the issues at Danske Bank, and how they contributed to the largest money laundering scandal in Europe.