Scandinavia’s biggest banking group, Nordea, has admitted its Copenhagen office was raided by Danish police as part of an ongoing investigation into alleged money laundering at the firm involving former customers of its international branch.

The bank says it is cooperating with the investigation but has not disclosed much else.

Neil Hodge is a freelance business journalist and photographer based in Nottingham, United Kingdom. He writes on insurance and risk management, corporate governance, internal audit, compliance, and legal...