Danske Bank Concludes Three-Year U.S. Justice Department Probation Period

Probation Period Concludes for Danske Bank

Danske Bank, Denmark's largest lender, announced on Monday, December 15, 2025, the successful conclusion of its three-year corporate probation period with the U.S. Department of Justice (DOJ). This milestone marks the end of all formal regulatory processes tied to the extensive money laundering scandal involving its former Estonian branch.

The probation period commenced on December 13, 2022, as part of a comprehensive plea agreement. Under this agreement, Danske Bank pleaded guilty to one count of conspiracy to commit bank fraud. The bank also agreed to a coordinated resolution with the DOJ, the U.S. Securities and Exchange Commission (SEC), and Denmark's Special Crime Unit (SCU).

The Money Laundering Scandal: A Recap

The scandal, which came to light in 2018, involved an estimated €200 billion (or between $230 billion and $236 billion) in suspicious transactions that flowed through Danske Bank's Estonian branch between 2007 and 2015. These illicit funds originated primarily from non-resident customers in high-risk jurisdictions, including Russia and other former Soviet states.

Danske Bank admitted to defrauding U.S. banks by providing false information about its anti-money laundering (AML) controls in Estonia, thereby gaining unlawful access to the U.S. financial system.

Financial Penalties and Remedial Actions

As part of the 2022 settlement, Danske Bank agreed to forfeit approximately $2.06 billion to resolve the U.S. investigation. The total aggregate amount payable to U.S. and Danish authorities amounted to $2.06 billion (approximately DKK 15.3 billion). Specific components of the settlement included:

• A forfeiture of $1.209 billion to the DOJ.
• An SEC settlement of approximately $413 million, which included a civil monetary penalty of $178.6 million.
• Approximately $500 million in penalties and $171 million in forfeiture to Danish authorities for violations of Denmark's Money Laundering Act and Financial Business Act.

Following the scandal, Danske Bank has undertaken significant efforts to strengthen its compliance programs and anti-money laundering controls, aiming to prevent future misconduct.

Official Statements

Carsten Egeriis, CEO of Danske Bank, affirmed the conclusion, stating, 'We have now successfully concluded the process with the DoJ, which also means that all formal processes with regulatory authorities in relation to the non-resident portfolio at Danske Bank's former Estonia branch have now been finalized.'

Deputy Attorney General Lisa O. Monaco previously commented on the case, emphasizing the DOJ's commitment to safeguarding the integrity of the U.S. financial system from illicit foreign money.