One of the largest and most notorious money laundering scandals in financial history involved the Estonian branch of Danske Bank, which processed an estimated 230 billion dollars in suspicious, largely non-resident transactions between 2007 and 2015. Another historic case involves Wachovia Bank, which was penalized for failing to maintain adequate anti-money laundering controls over drug-cartel-linked currency exchange houses, moving hundreds of billions through informal channels. These massive international scandals prompted sweeping regulatory overhauls globally.
1 votes
Marked as accepted