>> Danske Bank investors have been fretting for months over the possibility of a US criminal investigation into a 200 billion Euro money laundering scandal. No surprise then that shares fell 3% to their lowest since January 2015, after the lender confirmed the Department of Justice's interest. It's looking at whether Danske broke US rules in allowing payments through its Estonian operation.
And it could mean significant penalties for Denmark's largest bank. In 2015, France's BNP Paribas paid a record $8.9 billion to settle claims that it violated US sanctions against Sudan, Cuba, and Iran. Many of the non-resident accounts at Danske's Estonia branch were held in Russia, which is currently the subject of similar sanctions.
The scale of the allegations is now becoming clearer. The lender has said banks doing business in Estonia handled more than $1 trillion in cross-border flows in the decade after 2008.