Sweden’s financial regulator says Danske Bank is not addressing deficiencies in its anti-money laundering (AML) and countering the financing of terrorism (CFT) protocols quickly enough, issuing an injunction ordering the bank to take remedial action.
The Financial Supervisory Authority (“Finansinspektionen,” or “FI,” in Swedish) issued a press release Wednesday laying out its issues with Danske Bank’s AML/CFT protocols. The FI launched an investigation in June 2020 against Danske, alleging the bank was not in compliance with Sweden’s Anti-Money Laundering and Counter-Terrorist Financing Act of 2017.
