Nordea Bank Tackles AML Compliance Amid Hefty Fine
Nordea Bank AB, a major financial institution for the Nordic region, is re-establishing its anti-money laundering program to correct flaws in its processes that resulted in the company paying up to $5.9 million in fines. This is not the first time Nordea has been put in the spotlight for poor ...
Related articles
-
Article
Amid investigation, Nordea names chief compliance officer
Scandinavia’s biggest banking group, Nordea, has appointed Helene Jepson as chief compliance officer and head of group compliance.
-
Article
Nordea raided over ML probe in Denmark
Scandinavian banking giant Nordea revealed its Copenhagen office was raided by Danish police as part of an ongoing investigation into alleged money laundering.
-
PremiumUK’s Failure to Prevent Fraud law may expose firms to unlimited fines and prosecution, says Moody’s compliance risk expert
Fraud now accounts for around 40% of all crime in the U.K., posing a major problem for banks and consumers. Ted Datta, head of industry practice for financial crime compliance at Moody’s, warns that the risk is growing fast.