EY is being investigated for failing to alert the authorities to red flags linked to the Danske Bank Estonian laundering case. The Danish Business Authority started its investigation into EY last year as the full scale of the Danske scandal became known. The dirty-money scandal that’s swept through the Nordic and Baltic regions has more recently also engulfed Swedbank, Sweden’s oldest bank and biggest mortgage lender. KPMG said it “reacted and drew attention to, among other things, procedural failures in connection with the area of money laundering, both to the management and the board. The Financial Supervisory Authority also received our reporting.”Bloomberg

Source: Irish Examiner April 13, 2019 06:00 UTC