Financial Accounting News

Denmark Drops EY Probe Tied to Danske Money Laundering Case (1)

May 29, 2020, 11:59 AM

Danish prosecutors have dropped an investigation of Ernst & Young linked to the money laundering scandal at Danske Bank A/S.

The state prosecutor lacked evidence showing “that EY had knowledge about specific transactions or transaction patterns,” the Danish Business Authority said in a statement.

Authorities reported Ernst & Young last year to Denmark’s special prosecutor for economic and international crime amid allegations that the accounting firm had received information about potential money laundering in Danske in 2014, and neither investigated the claims nor alerted authorities.

Authorities in the U.S. and elsewhere are investigating Danske for failing to stop criminals...

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