22nd July 2019
Efforts to improve anti-money-laundering controls continue to weigh on the financial results of Nordic banks, which have faced allegations in recent months of moving dirty money. The region’s largest lenders— Swedbank AB, Nordea Bank ABP and Danske Bank A/S—said this week that investments in new compliance systems and… Read More
10th July 2019
Danske Bank (DANSKE.CO), entangled in a massive money laundering scandals, has appointed Simon Kingsbury as head of surveillance and investigation from HSBC (HSBA.L), the bank’s head of compliance Philippe Vollot wrote on LinkedIn. Kingsbury, who will join Danske Bank on July 15, will report to Vollot… Read More
9th July 2019
Danske Bank (DANSKE.CO) on Monday cut its 2019 earnings forecast for the second time as a tough trading environment and higher costs to combat money laundering weighed on the troubled bank. The profit warning comes as Danske Bank tries to restore trust among investors and customers after last… Read More
8th July 2019
The Nordic region’s six major banks announced the creation of a customer checking center on Friday, with the initiative expected to help their efforts to crack down on money launderers and recover from a scandal that has damaged the sector’s reputation. The news confirms a Reuters report about the venture,… Read More
5th July 2019
A Danske Bank whistleblower has requested a criminal investigation into the Danish lender for allegedly seeking to “discredit” him through an internal probe, the Financial Times reported Thursday.  The US-based attorney for Howard Wilkinson told the newspaper that he had contacted Danish prosecutors on Wednesday requesting a probe… Read More
25th June 2019
Danske Bank has dismissed its former interim chief executive Jesper Nielsen after thousands of Danish customers were overcharged for an investment product, a first step by its new boss to restore trust in the troubled lender. The case, which the Danish financial services authority called “very serious”, is another blow… Read More
18th June 2019
The Danish headquarters of Nordea was searched last week by Denmark’s state prosecutor in relation to a money-laundering investigation into the bank, a Nordea spokesman told Reuters. The Danish prosecutor has been investigating the Nordic region’s biggest lender in relation to money laundering risks since June 2016. Nordea took a… Read More
18th June 2019
The market for anti-money laundering (AML) compliance jobs may be on the rise in Nordic countries, but don’t count on that trend continuing. Advances in technology could render many compliance roles at Nordea Bank and Danske Bank obsolete, Bloomberg reported Monday. While Helsinki-based Nordea Bank relies on hundreds of employees to help… Read More
12th June 2019
Finnish police have declined to investigate an allegation of money laundering at Nordea made by anti-corruption campaigner Bill Browder’s Hermitage Capital, citing lack of jurisdiction and the statute of limitations. Hermitage Capital Management Ltd requested an investigation last October into transfers of funds to corporate customer accounts at Nordea from… Read More
7th June 2019
The European Commission on Wednesday called on six EU member-states to bolster their anti-money laundering (AML) supervisory and enforcement efforts in light of recent bank scandals and the risks of crypto-assets. The requests highlight recent efforts by Denmark, Estonia, Latvia, Bulgaria, Sweden and Malta… Read More