Foreign investors have this year dramatically reduced their share holdings in Danske Bank  as they digest news of its involvement in a vast money laundering scandal.

 Offshore holders sold a net 3.5 billion kroner ($520 million) of Danske shares in the first six months of 2019, the biggest selloff to hit any Danish stock in the period, according to data published by Denmark’s central bank on Friday. Foreigners now own 40% of the bank compared with 50% one year ago.Shares in Danske fell 1.9% in Copenhagen trading on Friday. Bloomberg’s index of European financial stocks was down 0.6%.Danske Bank is under investigation in the United States, Denmark, Estonia, France and Britain over 200 billion euros ($226 billion) in payments from Russia, ex-Soviet states and elsewhere that were found to have flowed through its Estonian unit between 2007 and 2015.