{"id":7679,"date":"2019-02-19T15:08:45","date_gmt":"2019-02-19T15:08:45","guid":{"rendered":"http:\/\/www.styledeals.co.uk\/blog\/estonia-orders-danske-bank-branch-to-shut\/"},"modified":"2019-02-19T15:08:45","modified_gmt":"2019-02-19T15:08:45","slug":"estonia-orders-danske-bank-branch-to-shut","status":"publish","type":"post","link":"https:\/\/www.styledeals.co.uk\/blog\/estonia-orders-danske-bank-branch-to-shut\/","title":{"rendered":"Estonia orders Danske Bank branch to shut"},"content":{"rendered":"\n<div property=\"articleBody\">\n<figure class=\"media-landscape has-caption full-width lead\"><span class=\"image-and-copyright-container\"><\/p>\n<p>                <img loading=\"lazy\" decoding=\"async\" class=\"js-image-replace\" alt=\"Woman walks past Danske Bank branch\" src=\"https:\/\/ichef.bbci.co.uk\/news\/320\/cpsprodpb\/BC2A\/production\/_105707184_danskebankreuters.jpg\" width=\"976\" height=\"549\"\/><span class=\"off-screen\">Image copyright<\/span><br \/>\n                 <span class=\"story-image-copyright\">Reuters<\/span><\/p>\n<p>            <\/span><figcaption class=\"media-caption\"><span class=\"off-screen\">Image caption<\/span><br \/>\n                <span class=\"media-caption__text\"><br \/>\n                    The Tallinn branch must close by 19 October<br \/>\n                <\/span><br \/>\n            <\/figcaption><\/figure>\n<p class=\"story-body__introduction\">Estonia has told Danske Bank to close its branch in Tallinn before the end of 2019 after a money-laundering scandal.<\/p>\n<p><a href=\"https:\/\/www.bbc.co.uk\/news\/business-45571744\" class=\"story-body__link\">Chief executive Thomas Borgen resigned last year<\/a> after an investigation into payments of about \u20ac200bn (\u00a3174bn) which were made through the branch.<\/p>\n<p>The bank said many of those payments were suspicious.<\/p>\n<p>Interim chief executive Jesper Nielsen said the bank would comply and would also close most of its activities in Latvia, Lithuania and Russia.<\/p>\n<p>However, its shared services centre in Lithuania will stay open.<\/p>\n<p>&#8220;We acknowledge that the serious case of possible money-laundering in Estonia has had a negative impact on Estonian society and finds it best that Danske Bank discontinues its Estonian banking activities,&#8221; Mr Nielsen said in a statement.<\/p>\n<p>The Danske Bank branch must close within eight months and repay its clients their deposits.<\/p>\n<p>Kilvar Kessler, head of Estonia&#8217;s banking regulator Finantsinspektsioon, said: &#8220;We have every right to put an end, once and for all, to this, as large-scale violations of the local rules have been committed, and this has dealt a serious blow to the reputation of the Estonian financial market.&#8221; <\/p>\n<p>The incident has led the European Banking Authority to open an investigation into possible breaches of EU law by the financial authorities of Estonia and Denmark.<\/p>\n<\/p><\/div>\n<p><br \/>\n<br \/><a href=\"https:\/\/www.bbc.co.uk\/news\/business-47292732\">Source<\/a> by <a href=\"\">[author_name]<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Image copyright Reuters Image caption The Tallinn branch must close by 19 October Estonia has told Danske Bank to close its branch in Tallinn before the end of 2019 after a money-laundering scandal. Chief executive Thomas Borgen resigned last year after an investigation into payments of about \u20ac200bn (\u00a3174bn) which were made through the branch. &hellip; <\/p>\n","protected":false},"author":0,"featured_media":7680,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-7679","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general"],"_links":{"self":[{"href":"https:\/\/www.styledeals.co.uk\/blog\/wp-json\/wp\/v2\/posts\/7679","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.styledeals.co.uk\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.styledeals.co.uk\/blog\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/www.styledeals.co.uk\/blog\/wp-json\/wp\/v2\/comments?post=7679"}],"version-history":[{"count":0,"href":"https:\/\/www.styledeals.co.uk\/blog\/wp-json\/wp\/v2\/posts\/7679\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.styledeals.co.uk\/blog\/wp-json\/wp\/v2\/media\/7680"}],"wp:attachment":[{"href":"https:\/\/www.styledeals.co.uk\/blog\/wp-json\/wp\/v2\/media?parent=7679"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.styledeals.co.uk\/blog\/wp-json\/wp\/v2\/categories?post=7679"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.styledeals.co.uk\/blog\/wp-json\/wp\/v2\/tags?post=7679"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}