Danske Bank — Ethics Grade F

Danske Bank receives an overall ethics grade of F (18/100) on CancelCo's corporate accountability database. Sector: Financial Services. Market cap: Large Cap.

Category scores

• labor: 55
• privacy: 30
• consumer: 20
• environment: 50
• humanRights: 40

Documented incidents (3)

• Estonian Money Laundering Scandal (high, 2022) — The bank pleaded guilty to conspiracy to commit bank fraud and agreed to forfeit $2 billion following a massive money laundering scheme where $212 billion in suspicious funds from Russia and other former Soviet states flowed through its Estonian branch.
• Faulty Debt Collection Practices (high, 2020) — The bank admitted to systemic IT errors that led to thousands of customers being overcharged for debts they did not owe or having their cases mishandled by collection systems for over a decade.
• Flexinvest Pro Fee Scandal (medium, 2019) — Management knowingly allowed customers to invest in the Flexinvest Pro product even though the expected returns were lower than the fees due to prevailing market interest rates.

Documented good deeds

• Climate Action Commitment — Published its first comprehensive 'Climate Action Plan' setting 2030 targets for emissions reductions across its lending and investment portfolios.

Ethical alternatives

• Handelsbanken — Maintains a decentralized model with industry-leading capital ratios and a strong record of avoiding major ethical scandals.