Estonia Gains $50 Million in Danske Bank Settlement: A Win Against Financial Crime

The U.S. Justice Department will share $50 million with Estonia from assets forfeited in the Danske Bank case. The bank faced investigations after 200 billion euros in suspicious payments were unearthed in 2018. Estonia, having assisted in the probe, will use the funds to bolster anti-financial crime efforts.

The U.S. Justice Department announced a $50 million asset-sharing agreement with Estonia, following the successful prosecution of Danske Bank. The bank is embroiled in a prominent money laundering scandal.

In September 2018, an internal probe uncovered around 200 billion euros of suspicious payments through Danske Bank's now-closed Estonian branch. As a result, Danske pleaded guilty to bank fraud conspiracy in 2022, agreeing to forfeit $2 billion.

Estonia's cooperation, including evidence sharing, was pivotal in the investigation. The Justice Department confirmed Estonia would channel the funds to enhance its financial crime-fighting capabilities.

(With inputs from agencies.)