Danske Bank – DIGIT INFO

Danske Bank Takes Position on Cryptocurrencies, Will Not Interfere With Crypto Trading

DIGIT — Sat, 19 Jun 2021 03:00:02 +0000

Danske Bank will not block credit cards used in crypto trading, according to its newly announced position on cryptocurrencies. The Danish bank would also accept deposits related to crypto investments, although it follows a cautious approach towards decentralized digital assets. Denmark’s Largest Bank Clarifies Its Stance on Cryptocurrencies Responding to mounting inquiries from customers and […]

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Danske Bank Lowers Negative Rate Threshold, Denmark’s Business Minister Says ‘Enough is Enough’

DIGIT — Mon, 03 May 2021 18:30:09 +0000

On April 26, 2021, the Danish multinational banking and financial services corporation Danske Bank published a press release explaining that the institution has changed the threshold for personal customers and standard interest rates for business customers in Denmark. The Bank plans to lower the threshold for charging negative interest on deposits from DKK 100,000 to […]

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Estonia Revokes 500 Crypto Firms’ Licenses After $220 Billion Money Laundering Scandal

DIGIT — Sat, 13 Jun 2020 17:10:06 +0000

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, […]

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Major Swedish Bank Fined $386 Million for Hiding Money-Laundering Evidence

DIGIT — Wed, 01 Apr 2020 22:45:56 +0000

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.

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Initiative to Curtail Negative Interest Rates Gains Traction in Germany

DIGIT — Sat, 24 Aug 2019 21:00:57 +0000

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, […]

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Major Swedish Bank Orders Negative Interest Rate on Euro Deposits

DIGIT — Thu, 22 Aug 2019 13:15:23 +0000

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 […]

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Passing the Burden of Negative Rates to Bank Clients Opens Door for Cryptocurrencies

DIGIT — Sat, 17 Aug 2019 17:34:43 +0000

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 […]

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Money Laundering Scandals Bring Court Charges and Record Job Cuts to Euro Banks

DIGIT — Tue, 09 Jul 2019 13:45:12 +0000

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 […]

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Nordea Bank Faces Allegations of Laundering Russian Millions

DIGIT — Mon, 04 Mar 2019 18:30:17 +0000

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 […]

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Big Banks Money Laundering: UBS Fined $4.2 Billion, Danske Shuts Down in 4 Countries

DIGIT — Thu, 21 Feb 2019 15:33:48 +0000

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 […]

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