A recent disclosure of massive money laundering in the Estonian branch of the largest Danish bank (Danske Bank) provides a spotlight on the issue of systemically important financial institutions and the need for enhanced vigilance, especially across borders. The disclosed activities took place during 2007-2015. At that time, anti-money laundering regulation and supervision in Denmark was insufficient and had substantial shortcomings as pointed out in evaluations by the Financial Action Task Force (FATF, 2017[i4j).