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As new information on the transfer of money of dubious origin via Danske Bank's divisions in the Baltic states has recently emerged, the central Bank of Lithuania says it is cooperating with Denmark's law enforcement.
Danske Bank
Danske Bank
© Reuters / Scanpix

"We are closely watching all information related to possible participation by Lithuanian financial institutions in money laundering. Responsible institutions in Denmark are now carrying out an investigation in to the Danske Bank case and we are cooperating with the Danish colleagues for all information that needs to be assess be taken into account," the central bank told BNS.

Philippe Vollot, chief compliance officer at Danske, said earlier on Friday that the bank acknowledges the fact that the bank was too slot to respond to the extent of the problems and the need to resolve them. He also underlined that the bank is now in a better position than it was in 2007-2015 and has increased resources dedicated to compliance and combating financial crime across the bank and have invested heavily in IT systems.

An international probe by investigative journalists revealed on Thursday that large amounts of money of dubious origin have been transferred over the past decade via Danske Bank's Lithuanian arm. The investigation is based on leaked data received by BuzzFeed News.

After Danske Bank's money-laundering prevention flaws came into light, the bank's Estonian branch was mainly in focus. Following the money laundering scandal, Danske Bank made the decision to suspend is banking operations in the Baltic states.

BNS
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