RATE Group | Danske Bank Caught Using Gold Bullion to Launder Illicit Funds
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Danske Bank Caught Using Gold Bullion to Launder Illicit Funds

11 Nov Danske Bank Caught Using Gold Bullion to Launder Illicit Funds

Posted at 01:44h in Bitcoin News by

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Danske Bank Caught Using Gold Bullion to Launder Illicit Funds

The Danish financial institution Danske Bank has been embroiled in a massive money-laundering scandal associated with an Estonian branch that allegedly laundered $223 billion in an eight-year period. According to documents uncovered this week stemming from 2012, Danske Bank’s Estonian branch let a select group of clients from Russia convert their money into gold bullion in order to help hide funds.

Also read: China Now Censors Anti-Blockchain Sentiment, Educates Public on Bitcoin

Danske Bank’s Estonian Branch Laundered Funds With Gold Bullion

Danske Bank has been involved in a money-laundering conspiracy for quite some time as a branch from Estonia has been accused of funneling billions of funds to offshore clients. The bank, headquartered in Copenhagen, is the largest financial institution in Denmark and the company’s retail banks cover 5 million customers. Investigators detail that between 2007 through 2015 the Estonian Danske Bank branch sent $223…

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