US probing possible Russian money laundering through Denmark’s largest bank: report
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U.S. law enforcement is reportedly investigating Denmark's largest bank over allegations of laundering money from Russia and former Soviet states.

The Wall Street Journal reported Friday that Danske Bank is facing probes over a series of transactions at their Estonian branch over several years through 2015.

A confidential whistleblower reportedly filed a complaint with the Securities and Exchange Commission (SEC) regarding the potential money laundering.


The SEC, Justice and Treasury departments are all independently investigating Danske, the Journal reported.

The bank initiated an internal search last year looking into a reported $150 billion that moved through non-Estonian accounts at the branch.

The Estonian government is also investigating 26 former Danske employees on laundering charges, the Journal reported.

The whistleblower identified Deutsche Bank AG and Citigroup Inc. as involved with the transactions through the Estonia branch, both of which are overseen by U.S. regulators.

A spokesman for Danske responded to the Journal's report saying that the bank talks to regulators, but "as a general rule, we do not comment.”

The SEC, Treasury and Justice departments, as well as spokesmen for Deutsche and Citigroup, declined the newspaper's request for comment.

The Journal noted that the Treasury Department can use a rare penalty called the "death blow sanction" to restrict the supply of U.S. dollars to foreign banks accused of laundering money.

Justice and Treasury can also both issue fines to banks, which hurts the company but not customers, who would suffer if the banks collapsed.