Danske fails to impress with dirty money offering

Downtrend: General view of a branch of Danish bank Danske Bank in Copenhagen. Shares of Denmark’s biggest bank plunged on Wednesday, falling as much as 11 at one point. — Reuters

COPENHAGEN: Danske Bank A/S wants to give US$230mil back to society to remove profits obtained through its alleged role in an international money laundering scheme. But investors and politicians are making clear they don’t think that’s enough.

Danske hasn’t yet decided exactly to whom it will give the amount, which it calculated based on profits from its Estonian office, where well over US$8bil in dirty money from Russia, Azerbaijan and Moldova was laundered from 2007 to 2015, according to the latest reports.