Danish financial regulator refers Jyske Bank to police for AML violations

Jyske Bank

Denmark’s financial watchdog reported Jyske Bank to Danish authorities for allegedly violating the country’s anti-money laundering (AML) law.

The Danish Financial Supervisory Authority (FSA) said Monday it found “significant deficiencies” in the bank’s due diligence measures, among other issues, according to a statement in Danish translated to English.

The three potential violations of the Danish AML law involved due diligence measures, enhanced customer knowledge procedures, and recordkeeping obligations related to the bank’s mortgage and private banking departments. The alleged shortcomings related to Jyske Bank’s handling of several high-risk customers, as well as a failure to investigate suspicious transactions.

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