Press Release January 2019
Despite being located in Tallinn, a quaint city with a population of less than half a million, its Estonian branch was bringing in as much as a tenth of the entire group's revenue from thousands of suspect non-resident accounts. Some were allegedly linked to Vladimir Putin’s family; others were used by Azerbaijani authorities to lobby European officials with opaque payments. After the whistle was blown by an employee, an independent investigation found "major deficiencies" in Danske Bank’s AML framework. By the end of September 2018, its CEO Thomas Borgen resigned.