The verdict has been reached in Europe’s biggest money laundering scandal – the guilty bank may pay $2 billion

Danske Bank was approved by a judge Pays $2 billion for money laundering through a branch of the Estonian bank In order to end a long-running US investigation.

The Danish financial institution pleaded guilty in December to conspiracy to commit bank fraud. According to the US Department of Justice, the bank admitted to providing services through its branch in the Baltic country to suspicious clients, including in Russia, despite its knowledge of the risks of money laundering.

We previously wrote about the case and developments here:

The Copenhagen-based bank was formally sentenced Thursday by US District Judge Naomi Rice-Buchwald in Manhattan, who approved a deal between Danske Bank and US prosecutors that requires it to pay $2 billion. According to the agreement, the $672 million Danske Bank will be credited to the Danish criminal authorities and the $179 million paid to the US Securities and Exchange Commission.