U.S. Justice Department to Allocate $50 Million to Estonia in Danske Bank Case

The U.S. Justice Department is sharing $50 million with Estonia following Estonia's crucial role in prosecuting Danske Bank. The bank faced multiple investigations after a 2018 probe revealed about 200 billion euros of suspicious payments. Estonia will use these funds to bolster its financial crime-fighting capabilities.

The U.S. Justice Department announced a $50 million allocation to Estonia in recognition of the Baltic nation's assistance in the prosecution of Danske Bank. The bank had been under several investigations due to its Estonian branch's involvement in suspicious transactions totaling around 200 billion euros.

After pleading guilty to bank fraud conspiracy in late 2022, Danske Bank agreed to forfeit $2 billion to settle the U.S. investigation. The funds shared with Estonia will aid in strengthening the country's efforts to combat financial crime, as stated by the Justice Department.

Estonia's cooperation in the investigation was crucial, providing pivotal evidence to U.S. authorities. The Estonian embassy in Washington confirmed this agreement through an emailed statement, marking a significant collaboration with U.S. investigators in the global financial field.

(With inputs from agencies.)