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WASHINGTON (CHATNEWSTV) — The United States has transferred $50 million in forfeited assets to Estonia, recognizing the Baltic nation’s critical role in the prosecution of Danske Bank and related asset forfeiture, the Justice Department announced Tuesday in a press statement sent to CHATNEWSTV.
The funds, part of a $2.059 billion forfeiture settlement with Danske Bank, will bolster Estonia’s efforts to combat financial crime. Principal Deputy Assistant Attorney General Brent S. Wible lauded the cooperation, emphasizing the importance of international partnerships in addressing transnational financial crime.
“Today’s agreement acknowledges Estonia’s invaluable contribution to the successful U.S. prosecution of Danske Bank,” Wible said.
“Estonia’s commitment to using the funds to combat financial crime and enhance international cooperation reflects the shared dedication of our nations to tackle complex cross-border crime.”
Danske Bank pleaded guilty in December 2022 to conspiracy to commit bank fraud, admitting it misled U.S. banks about its inadequate anti-money laundering controls and high-risk offshore customers. Estonia’s assistance was instrumental, providing evidence from its own investigations and responses to U.S. requests.
Under the agreement, Estonia will direct the funds toward enhancing its capacity to fight financial crime, including money laundering, fraud, cybercrime, and terrorism financing. The funds will also support forensic accounting, cyber forensics, and specialized training across the Baltic and Nordic regions.
To ensure transparency, Estonia will establish an Implementing Commission to oversee the fund’s administration. Expenditures will be independently audited, with the United States serving as an advisor to the commission.
Danske Bank’s case was prosecuted by the Justice Department’s Money Laundering and Asset Recovery Section, the U.S. Attorney’s Office for the Southern District of New York, and the FBI. The Justice Department’s Office of International Affairs provided key support in the resolution.
Editor: Gabriel Ani
