Major investors may flee Danske Bank securities over scandal

Major asset managers in Sweden, Norway and Denmark are very concerned about the impact of a money-laundering scandal at Danske Bank's Estonian unit. Several investors have already, or may, drop investments in Danske Bank securities, due to policies on responsible investments.

Major institutional investors are highly concerned about Danske Bank's money-laundering scandal in the bank's Estonian unit. | Photo: Ints Kalnins/Ritzau Scanpix

Danske Bank, Denmark’s largest bank, has seen its share price fall by more than 30 percent this year, as press reports, especially in Danish daily Berlingske, has focused on a major money-laundering scandal in the bank’s Estonian unit.

On Wednesday, the bank acknowledged that it has had almost no anti-money laundering controls in place at the Estonian unit, despite being required to do so by EU law.

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