As we reported here, Jyske Bank was fined €1.7million by Spanish authorities for alleged money laundering and refusing to supply information. The bank is appealing the decision because it believes the decision runs against EU law. According to Panorama, the bank's managing director, Lars Aarup Jensen, says "Based on the legal advice that we have received we are of the opinion that the decisions are in breach of EU laws and we consider the situation to be of a political nature. The case involves political issues that are beyond the competence of a single institution like ours to resolve," claiming that the situation is due to disagreements on eitherside of the border, and adding that Jyske Bank adamantly denies participating or contributing to money laundering.
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