UK companies implicated in alleged money laundering

COPENHAGEN/LONDON: Danske Bank’s moneylaundering scandal has spread to Britain, where the National Crime Agency (NCA) said it was investigating the use of UKregistered companies.

Concern about the extent of possible money laundering involving Danske Bank’s Estonian branch is mounting and European Union competition commissioner Margrethe Vestager has joined a growing chorus of calls for a clampdown on the billions of euros alleged to have been ‘‘washed’’ through several European banks.

‘‘This is a giga scandal,’’ Vestager said, as Danske Bank’s already battered shares fell a further 3.9%.

Britain’s NCA said it was ‘‘aware of the use of UKregistered companies in this case and has related ongoing operational activity’’, adding that the threat posed by the use of UKregistered companies for money laundering was ‘‘widely recognised’’ and Britain was working to restrict it.

British and Russian entities dominate a list of accounts used to make ¤200 billion ($NZ350 billion) in payments through Danske Bank’s Estonian branch between 2007 and 2015, many of which the bank said this week were suspicious.

By 2013, the number of UKregistered customers in its nonresident portfolio topped 1000, Danske Bank’s report revealed, ahead of Russia, the British Virgin Islands and Finland. — Reuters