February 19, 2019 / 10:29 AM / 3 months ago

EU banking watchdog probes regulators over Danske Bank

LONDON, Feb 19 (Reuters) - The European Union’s banking watchdog said on Tuesday it has opened a formal investigation into a possible breach of EU law by Estonian and Danish regulators regarding money-laundering activities linked to Danske Bank.

“On 18 February 2019, the European Banking Authority (EBA) opened a formal investigation into a possible breach of Union law by the Estonian Financial Services Authority (Finantsinspektsioon), and the Danish Financial Services Authority (Finanstilsynet), in connection with money laundering activities linked to Danske Bank and its Estonian branch in particular,” the EBA said in a statement. (Reporting by Huw Jones Editing by Rachel Armstrong)

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