Danske Bank collects excessive debt from 106,000 customers due to IT errors

On Monday, Danske Bank (DANSKE.CO) reported that it collected outdated or excessive debt from its 106,000 customers due to errors in its computer systems.

“Due to data quality issues, Danske Bank has collected more debt from debt collection customers than the bank was entitled to,” Danske Bank’s spokesman said in an interview with Reuters.

Denmark’s largest bank stated that the case was “deeply regrettable” as it reviewed all potential cases to ensure that all customers would be fully compensated.

According to the company, 900 customers were entitled to compensation out of 17,000 cases that the bank had processed so far. It added that most customers were entitled to compensation worth 1,000 to 2,000 Danish Krones.

Danske Bank’s lawsuit was dismissed last week after its top executives were accused of defrauding shareholders by hiding and failing to stop widespread money laundering at its former Estonian branch.