Another Scandal In The Industry: Bank That Barred Bitcoin Faulted Of Money Laundering
Recently it was discovered that a bank that prohibited its workers from purchasing Bitcoin has been accused of money laundering.
Regulator Is Aware Of Nordea’s Bank Money Laundering Activities
The market watchdogs in Sweden have got information that Nordea Bank might have been involved in currency laundering scam. The institution carries out its activities in Finland. This information indicated that the financial institution received illegal money from other banks.
The present issue is associated with Danske Bank that is based in Denmark. Forbes disclosed that the bank has been involved in illegal activities with other banks in Europe. Moreover, it has also involved the clients in these activities.
Financial authorities have realized that the estimated amount for these events is close to 200 billion euros. This huge amount has created high suspicion in the market. SVT national broadcaster in Sweden revealed that 365 personal accounts obtained millions from Nordea bank. The amount received by these people was around 150 million euros. In addition, shell corporation’s invoices were fake.
The Payments To Nordea Bank Came From Danske Bank
Investigations show that these disbursements to Nordea originated from Danske Bank. The entity is in the public limelight because of its money laundering activities. The financial times also disclosed that the bank is facing heavy penalties. Additional suspicious trades have been exposed from a Lithuanian bank. The bank is currently under investigations to know whether the allegations leveled against it are true.
Most of the bank’s transactions went to Nordea’s banks in Denmark. However, some went to other banks in Finland, Sweden and Norway.
Nordea responded by saying that they were aware of this report and will take appropriate action to rectify the situation. The entity revealed that it was willing to work with financial intelligence units to know the truth about this issue. However, they were quick to inform the audience that it is the responsibility of the authorities to take action.
Reuters released a report in January regarding the activities of Nordea bank. The institution prohibited 31,000 workers from purchasing in Bitcoin and trading in digital moneys. The bank’s spokesperson said that they took the decision because of the high risks involved in this business. The ban was implemented on February 28.
Dankse CEO was forced to exit the institution last month when the $235 billion money laundering scam was unraveled. The cases of money laundering are making many potential investors to avoid cryptocurrencies trade because of the fear of losing their money.