March 15, 2018 / 3:11 PM / a year ago

Danske Bank's anti-money laundering efforts in Estonia unsatisfactory -chairman

COPENHAGEN, March 15 (Reuters) - Danske Bank’s chairman Ole Andersen said it was unsatisfactory that the bank may have failed to meet expectations for anti-money laundering measures in Estonia.

Speaking at the bank’s annual general meeting on Tuesday Andersen said: “It is highly unsatisfactory that we may have failed to meet both our own and society’s expectations to our anti-money laundering measures in Estonia in the period from 2007 to 2015.”

Estonia’s financial regulator said last month it would open an investigation into Danske Bank after media reported it had been aware of money-laundering allegations at its Estonian branch as far back as 2013.

Danske’s head of compliance, Anders Meinert Jørgensen, said at the time the bank had held constructive talks with Estonian authorities and had launched an investigation.

Reporting by Teis Jensen. Editing by Jane Merriman

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