(Bloomberg) -- Danske Bank A/S said a unit of the U.S. treasury’s office has closed its investigation of the lender’s Estonian money laundering case with no action.
The decision by the U.S. Department of the Treasury’s Office of Foreign Assets Control doesn’t mean the office can’t take “future enforcement action should new or additional information warrant renewed attention,” the Copenhagen-based bank said in a statement on Saturday. Danske said it remains under criminal and regulatory investigations by authorities in Denmark, France and the U.S.
Read more on Bloomberg Intelligence’s legal outlook on Danske Bank
Danske, Denmark’s biggest lender, is being investigated for its involvement in Europe’s biggest money laundering scandal, which has cost several of its top executives and board members their jobs but so far hasn’t led to large fines. The bank has admitted that a large part of about $240 billion in transactions handled by its Estonian unit in 2007-2015 was suspicious.
Authorities still investigating Danske include the Danish Prosecutor, the U.S. Department of Justice and the U.S. Securities and Exchange Commission.
(Updates with details, comments from bank)
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