Danske Bank pleads guilty to resolve long-running Estonia money-laundering probe

[searcher]

Danske Bank pleads guilty to resolve long-running Estonia money-laundering probe​

Sarah N. Lynch
Tue, December 13, 2022 at 12:38 PM·2 min read

WASHINGTON (Reuters) - Danske Bank, the largest bank in Denmark, pleaded guilty to bank fraud on Tuesday and agreed to forfeit $2 billion as part of an agreement with the United States following an investigation into billions of dollars in illicit payments that flowed from high-risk clients in Russia and elsewhere, the Justice Department announced on Tuesday.

The accord with the Justice Department marks the first time the United States has taken action against the bank, following a lengthy investigation into its conduct across multiple countries including Great Britain, Denmark and Estonia.

Danske Bank pleads guilty to resolve long-running Estonia money-laundering probe

Danske Bank, the largest bank in Denmark, pleaded guilty to bank fraud on Tuesday and agreed to forfeit $2 billion as part of an agreement with the United States following an investigation into billions of dollars in illicit payments that flowed from high-risk clients in Russia and elsewhere...

news.yahoo.com

 

[Goldhedge]

Only $2B? How much did they make?

 

[searcher]

Only $2B? How much did they make?

Bare minimum..................

In doing so, Russian and other high-risk clients were able to gain access to U.S. banks, which collectively processed $160 billion on their behalf.

 

[Cigarlover]

Bare minimum..................

In doing so, Russian and other high-risk clients were able to gain access to U.S. banks, which collectively processed $160 billion on their behalf.

So DOJ just getting a cut so they can funnel it into Left wing propaganda programs.

 

[pmbug]

$2B / $160B = 1.25%

... The average credit card processing fee ranges between 1.5% and 3.5%. ...

Credit Card Processing Fees (2022 Guide)

For merchants, it can be almost impossible to run a business without taking credit cards. However, the fees from these transactions can eat into profits, making it hard for some merchants with a small spread to stay afloat. The average credit card processing fee ranges between 1.5% and 3.5%. Just wh

www.forbes.com

Danske Bank:

 

[Goldhedge]

$2B / $160B = 1.25%

A slap on the hand in the cookie jar.