Banks, Estonia, Financial Services

International Internet Magazine. Baltic States news & analytics Sunday, 19.05.2019, 15:45

Ex-head of Danske Estonia: I cannot comment

BC, Tallinn, 13.03.2019.Print version
Aivar Rehe, who was the head of Danske Bank Estonia during the years of alleged money laundering, has told Postimees in an interview that while he cannot comment on the money laundering suspicion, Danske's anti-money laundering measures were sufficient at that time, according information in Postimees writes LETA/BNS.

"I believe we should let the proper authorities find the correct answers. It is very difficult and inappropriate for me to comment on where things stand today," Rehe told a Postimees journalist.

According to the former bank manager, anti-money laundering rules at Danske were sufficient in the period when the activity in question took place.

"After all, we were an organization subject to supervision and it wasn't a one-off activity, it was continuous activity. The bank was checked by both the supervisory authorities and the Bank of Estonia. Everything was transparent in that sense," he said.

Rehe said that while anti-money laundering rules in said period were significantly different from the present, banks were checked regularly.

"If you look at what the economy was ten years ago and what the attitude towards different regions and also the Russian economy was. When misunderstandings arose between the states of Russia and Ukraine and the word 'sanction' came, the political direction and with it banking changed," Rehe said.

Aivar Rehe headed Danske in 2008-2015. In 2006-2007 Rehe headed Sampo Bank.

Danske is under investigation for alleged money laundering in Denmark, Estonia, France, Germany, the UK and the United States.

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