Danish Authorities Have Failed in Fight Against Money Laundering

(Bloomberg) --

Three of Denmark’s ministries, the country’s state prosecutor and the police have all failed in their efforts to prevent money laundering, according to the Parliament’s Public Accounts Committee.

The committee’s criticism was based on a public auditor report, which was released on Friday. It had been in the works since 2018 when it was revealed that Denmark largest lender, Danske Bank A/S, was part of Europe’s biggest money laundering scandal.

The committee said that Denmark’s special prosecutor for serious economic and international crime had done a poor job in sharing with other relevant authorities the reports of suspicious transactions it received from the country’s banks. The committee also criticized police for not providing proper feedback on the usage of any shared intelligence and the business, tax and justice ministries for not effectively preventing economic crimes.

Read more: Danish Prosecutor Lambasted in Review of AML Actions

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