Danske Bank's CEO, Chris Vogelzang stepped down after he was implicated in a criminal investigation
The chairman of Danske Bank named Chris Vogelzang, who has taken over for his predecessor's departure, is resigning.
Author:Gordon DickersonReviewer:Frazer PughApr 20, 202130.7K Shares853.5K Views
The chairman of Danske Bank named Chris Vogelzang, who has taken over for his predecessor's departure, is resigning.
Former ABN AMRO Executive Dutch authorities identify him as a suspect in AML violations. The recent hiring of Carsten Egerius as CEO in Copenhagen has been confirmed by Danske Bank.
"I'm absolutely flabbergasted by this probe into me for money laundering. There has been no wrongdoing on my part, which is why I'm resigning immediately and high tailing it outta here. I'll take no further questions. Thank you." Danske Bank CEO
In the wake of the 2008 financial crash, no one was charged even though their fingerprints were all over the paperwork. Since the only bank sued was Abbacus Bank in Chinatown, which was made widely known, the prosecutor's prosecution was almost non-existent. In the lead-up to the financial crash, they pretty much blamed all of it on the bank which was headed by Chinese-Americans, though it was one with nothing to do with them.
"We are very sorry to see Chris Vogelzang leave Danske Bank. He has been instrumental in the initiation of the ongoing transformation of Danske Bank and the progress and results in it has already created," The chairman of the Danske Bank, Karsten Dybvad said.
While I'm concerned about the stock market, I think we're about to see an uptrend or downtrend of financial markets. Both three (the U.S. government, the SEC, and the Fed) are bracing for it.
ABN Bank, Rabobank, and ING Bank. Before stepping down as the now-former CEO of ABN Bank, Danske was a board member of several other financial institutions.
The authorities in the Netherlands previously fined ING for an underbanked practice, then fined it a record 750 million dollars and recently hit the firm with another 500 million dollars in similar penalties. Based on my own knowledge, I'm certain these rules are not jokes. The administrative effort required to deal with these banks has no limits. Their approach is basically: if someone uses your bank to clean money, and if you have even the slightest suspicion, you'll be fined.
In order to illustrate the definition, we hire approximately 40,000 people Just over 15% of the population of the UK are KYC members. Any 'suspicious' transactions are tracked daily and then followed upon. Much of the time, it's downright tedious, and in almost all instances a complete waste of time. When you sell a car to a Russian, what kind of experience does the transaction usually entail? Expect to be contacted. In order to obtain your ID, he or she will need your money, and in order to prove your funds, you will have to show your ID, etc. They would never buy this if you've already sold a large number of cars to Russians, Ukrainians, or to someone else who's off the grid. It's completely crazy.
Gordon Dickerson
Author
Frazer Pugh
Reviewer
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