Danske Bank Whistle-Blower Maps Out Where the Dirty Money Flowed
(Bloomberg) -- Howard Wilkinson, the former Danske Bank A/S employee turned whistle-blower, just gave lawmakers in Denmark a snapshot of how dirty money flowed from Russian clients into western Europe.
He says there were four Russian banks used in the scheme. One of those was a unit of a European lender and one was a subsidiary of a U.S. bank. It’s worth noting that the Russian money that flowed into the unit of the U.S. bank went straight into Danske’s Danish operations, according to Wilkinson.
His slides also show that Russian clients in some cases bypassed Danske and went straight to the U.S. unit of a European bank to launder their money.
Read this to get more about the correspondent banking angle in the Danske Bank laundering scandal.
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