Howard Wilkinson was working in a branch of Danske Bank in Estonia when he discovered some suspicious transactions: “Banks are supposed to check the money coming in… Evidently it wasn't being done.”
More than 5 years since he became a whistleblower, Howard Wilkinson says the chance of tracing the laundered money is diminishing: “It's certainly not impossible, but it's many, many times harder. A lotta snow has fallen over the footprints.”
See how a simple public records search showed this whistleblower that one of the bank’s biggest customers was filing fraudulent financial statements. At the same time, Lantana Trade LLP was passing up to $20 million a day through Dankse Bank.
You of course remember this CBS news episode of 60 Minutes about the Danske Bank scandal, from back in May. (That was the biggest money laundering scandal in history, in case you’ve been distracted by the cricket.) 2/11
How the Danske Bank money-laundering scheme involving $230 billion unraveled
Media blame Russians or the and all the big banks for money-laundering $230 billion. But not many recognize that KYC/AML surveils innocent small users while being quite useless against actual criminals. #MyDataMyLife