Danske Scandal Shines a Light on European Money Laundering

The transcript discusses a financial scandal involving $9 billion of Russian money through an Estonian operation. It highlights the lack of strong regulatory mechanisms in Europe to address such issues, drawing a cinematic comparison to the show McMafia. The discussion also touches on the broader implications for European banks and their compliance officers, who are now questioning their own regulatory measures. Examples of past compliance failures in banks like Standard Chartered and Barclays are mentioned, emphasizing the widespread nature of the issue.

What reaction does the speaker suggest European bankers might have to the situation?

• Panic

• Indifference

• Excitement

• Curiosity

Which banks are mentioned as having faced issues with regulatory compliance?

• Standard Chartered and Barclays

• ING and Barclays

• ING and Standard Chartered

• All of the above