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Denmark’s biggest bank in $413m settlement over fraud charges in Estonia

Photo: Getty Images

Danske Bank is the second bank to be hit with big fines after money-laundering breaches in the Baltics.

Danske Bank, Denmark’s biggest bank, has been charged with misleading investors about the anti-money-laundering (AML) compliance program in its Estonian branch. The Securities and Exchange Commission (SEC) has also charged the bank for failing to disclose the risks posed by the program’s significant deficiencies.

Danske Bank acquired the Estonian