Danske Bank was implicated in a money-laundering scandal involving its Estonia branch and about €200 billion in suspicious payments.
The transactions passed through Danske Bank’s Estonian branch between 2007 and 2015. An internal investigation found that many non-resident customers, especially from countries outside Estonia, had used the branch to move large sums of money. The bank later estimated that approximately €200 billion flowed through the branch during the period under review, although not every transaction was proven to be illicit.
The scandal drew attention after whistleblower Howard Wilkinson raised concerns about the branch’s customers and controls. Danske Bank’s own investigation, published in 2018, identified serious compliance failures and management shortcomings. The bank eventually exited its operations in Estonia.
The case is often confused with the separate money-laundering allegations involving other Baltic banks. Danske Bank is the specific institution whose Estonian branch became the central focus of this investigation.