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Category: Danske Bank
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Danske Bank Lowers Negative Rate Threshold, Denmark’s Business Minister Says ‘Enough is Enough’
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Estonia Revokes 500 Crypto Firms’ Licenses After $220 Billion Money Laundering Scandal
Estonia has canceled 500 cryptocurrency firms’ licenses, about 30% of the total, as part of a crackdown on illicit financial flows following a $220 billion money-laundering scandal involving Danske Bank. Regulators are concerned that bitcoin exchanges and other crypto companies might be liable to using their platforms to facilitate illegal transfers, Bloomberg reported. Madis Reimand, […]
The post Estonia Revokes 500 Crypto Firms’ Licenses After $220 Billion Money Laundering Scandal appeared first on Bitcoin News.
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Major Swedish Bank Fined $386 Million for Hiding Money-Laundering Evidence
Sweden’s Financial Supervisory Authority (FSA), ’Finansinspektionen’, has fined Swedbank a record sum of 4 billion Swedish krona ($386m) for breaching anti-money laundering regulations on a large scale. Around USD 6 billion had been funneled between suspected accounts.
The post Major Swedish Bank Fined $386 Million for Hiding Money-Laundering Evidence appeared first on Bitcoin News.
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Initiative to Curtail Negative Interest Rates Gains Traction in Germany
Negative interest rates, a common occurrence in Europe these days, are unpleasant for both banks and clients. And financial institutions have been increasingly transferring the bulk of the burden on to their customers. Some political factions in Germany, however, aren’t happy with the trend and are pushing for adequate protection for the ordinary small saver, […]
The post Initiative to Curtail Negative Interest Rates Gains Traction in Germany appeared first on Bitcoin News.
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Major Swedish Bank Orders Negative Interest Rate on Euro Deposits
Sub-zero interest rates have become the norm in some countries, especially in Europe. Nordic nations such as Sweden and Denmark have been in negative territory for a while and a growing number of banks in the region are now charging depositors for keeping their money. Saving in fiat right now, unlike cryptocurrencies lately, leads to […]
The post Major Swedish Bank Orders Negative Interest Rate on Euro Deposits appeared first on Bitcoin News.
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Passing the Burden of Negative Rates to Bank Clients Opens Door for Cryptocurrencies
Record low and negative interest rates have put commercial banks in a difficult spot. Across Europe, they have been passing the burden to their clients. Some have introduced fees for those with large account balances, while others are punishing everybody equally. In any case, some bankers fear this could lead to withdrawal of large amounts […]
The post Passing the Burden of Negative Rates to Bank Clients Opens Door for Cryptocurrencies appeared first on Bitcoin News.
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Money Laundering Scandals Bring Court Charges and Record Job Cuts to Euro Banks
The international financial establishment is known to express concern about the risks of money laundering when the crypto space is mentioned. A string of scandals indicates, however, that traditional banks are not only susceptible to the phenomenon but sometimes complicit, whether knowingly or inadvertently. New chapters have been added to the saga over the last […]
The post Money Laundering Scandals Bring Court Charges and Record Job Cuts to Euro Banks appeared first on Bitcoin News.
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Nordea Bank Faces Allegations of Laundering Russian Millions
Finnish public broadcaster YLE will air a damning program on March 4 that reveals Nordea Bank’s alleged involvement in a multi-million-dollar money laundering scheme. The program will show how dirty money, mostly from Russian criminals, passed through Nordea, the biggest lender in the Nordic region. Also read: Startup Company Sets Up Bitcoin ATM in Botswana […]
The post Nordea Bank Faces Allegations of Laundering Russian Millions appeared first on Bitcoin News.
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Big Banks Money Laundering: UBS Fined $4.2 Billion, Danske Shuts Down in 4 Countries
Money laundering scandals involving some of the world’s largest banks have grown this week. Switzerland’s largest bank, UBS, has been fined 3.7 billion euros (~$4.2 billion) for money laundering. Amid a $226 billion scandal, Estonian authorities have ordered Denmark’s largest bank to terminate its operations in the country. Danske Bank is also shutting down in […]
The post Big Banks Money Laundering: UBS Fined $4.2 Billion, Danske Shuts Down in 4 Countries appeared first on Bitcoin News.
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