How did auditors miss signs of money laundering at Danske Bank?

As multiple investigations into Danske Bank A/S get under way, Denmark’s gover nment wants to know why the bank’s auditors appear to have missed signs that one of Europe’s biggest money laundering scandals was unfolding in front of them.

Business Minister Rasmus Jarlov says he finds it surprising that the firms hired to go over Danske’s accounts didn’t react to years of irregular transactions at the bank’s Estonian unit.

“All I can do is give the layman’s perspective that the financial ratios were off,” he said. “A lot of money was made in a tiny Estonian branch, which posted a huge profit margin and quick, large transfers in and out of the branch, which looked off,” Jarlov said, after attending a parliamentary hearing into money laundering in Copenhagen on Tuesday. “It’s the sort of thing that I would assume would catch the interest of both management

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