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Danske kiss good bye Russia after money laundering scandal

Following the dramatic impact that the Russian Laundromat had in the finances, credibility and regulatory stand of the group after hundreds of billions were laundered using the Estonian Branch, Danske Bank has decided to cease corporate operations in Moscow and to significantly reduce other operations.

These is step one of the operation which concludes with the definitive closure of operations in the Russian Federation as per reported information.

The final winding up is scheduled to be concluded by 2020.

Once the operation will be concluded, Danske will be added to the growing list of international financial institutions abandoning the Russian financial sector.

Source

https://www.intellinews.com/danske-bank-to-exit-russia-amid-money-laundering-scandal-165359/?source=russia

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Jaime Prieto

Mr. Jaime Prieto is a lawyer experienced in Financial Crime, Anti-Money Laundering and Counter Terrorism Financing having extensive professional experience in both public and private sectors. Mr. Prieto has been a Head of Compliance in the European Union, the Americas and the Caribbean for banks, trust companies, asset managers, Big Four audit and advisory firms, RegTechs, government agencies and other types of financial professionals. In addition to his experience, he has been legal and educational chair in several compliance and sectorial organisations and performed as a teacher and speaker for a number of organisations and in several local and international forums. Furthermore, Mr. Prieto is an experienced Money Laundering Reporting Officer anda Data Protection officer with additional experience in risk management.
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