reputational risk News

Danish Prosecutors Charge Danske with Alleged Money Laundering Violations

Denmark’s state prosecutor has filed preliminary charges against Danske Bank for alleged violations of the country’s anti-money laundering act in relation to its Estonian branch. The country’s biggest lender was placed under investigation in August over concerns that transactions worth …

UK Companies’ Role in Alleged Danske Money Laundering a ‘Disgrace’: Whistleblower

British company structures which hide the identity of those behind them were branded a disgrace by the whistleblower who brought to light an alleged 200 billion euro ($228 billion) money laundering scandal involving Danske Bank. “The role of the United …

Update: Danske Whistleblower Says U.S., European Banks Helped Launder Money

The whistleblower who revealed alleged money laundering involving Danske Bank said on Monday that a major European bank helped process up to $150 billion in suspicious payments, or nearly two-thirds of the transactions under scrutiny. Howard Wilkinson, who was head …

Explaining Danske Bank’s €200 Billion Money Laundering Scandal

Danske Bank has been caught up in one of the largest-ever money laundering scandals. Howard Wilkinson, the whistleblower who first alerted Denmark’s biggest bank to the problem, testified before the Danish parliament on Monday. HOW BIG A SCANDAL IS THIS? …

Deutsche Bank, BofA, JPM Drawn into Danske Money Laundering Probe: Sources

Deutsche Bank AG and Bank of America Corp. have been contacted by U.S. criminal investigators for information about transactions they handled for a small bank branch in Estonia that’s at the center of one of the biggest money-laundering investigations in …

Danske Bank’s Money Laundering Could Implicate Other Banks: Whistleblower Lawyer

Danske Bank’s 200 billion euro ($225 billion) money laundering scandal might be the “tip of the iceberg” and investigators should examine whether major Western banks played a role, a lawyer for the whistleblower said. Stephen Kohn, a partner at U.S. …

Shareholder Activists Press Drug Firms on Business Risks of Opioid Crisis

U.S. shareholder activists are addressing a soaring death toll from opioid drug abuse, asking companies that make and distribute the painkillers to review the risks their businesses could face from their role in the sector. Leaders of a 30-fund group …

JPMorgan Must Face Discrimination Claim by Arab-American Family Business

An Arab-American family whose business and personal bank accounts were closed in 2014 without explanation can sue JPMorgan Chase for racial discrimination, a federal judge in Detroit has ruled. Filed in February, the lawsuit by Najah Manni, his wife Kathy …

Mitsubishi Motors Faces Uncertain Future as Fuel Test Scandal Deepens

For the second time in about a decade, Mitsubishi Motors Corp. faces a scandal that poses an existential threat. The Japanese automaker has improperly tested the fuel economy of its cars for the past quarter century, widening the scope of …

Lloyd’s Insurers Lead New Trend to Sell Legacy Portfolios: Willis Towers Watson

The majority of Lloyd’s businesses (77 percent) are considering legacy portfolio disposals, with more than half of firms based in western Europe (53 percent) expecting to make at least one sale in the next three years, according to Willis Towers …