As Bankers in Danske Scandal Detained, Denmark Urges No Clemency

A total of 10 former employees of Danske Bank A/S in Estonia were apprehended over the course of Tuesday and Wednesday, Bloomberg News reported. Estonian prosecutors suspect they deliberately helped criminals from the former Soviet Union launder money, for personal gain. In Denmark, where Danske is the biggest bank, the government made clear it’s not in favor of clemency. “It’s very important to come down hard on this case,” Danish Business Minister Rasmus Jarlov told Bloomberg. “It’s absolutely essential that we ensure that committing economic crimes comes at a cost.” Danske Bank’s dirty money saga “offends one’s sense of justice and people’s confidence in the financial industry,” Jarlov said. The minister, who oversees bank legislation in Denmark, has already made clear he thinks there’s evidence that illegal acts were committed in the Danske case. Read more.