Nordea Reported to Police for Bank’s Money Laundering Breaches
- Danish government looking into tougher penalties for banks
- Nordea plans to build up its compliance unit with more staff
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Scandinavia’s biggest bank said it was reported to the police after an inspection in June last year by the Danish financial regulator uncovered a number of failures in its processes to prevent money laundering.
Nordea Bank AB says it is cooperating with the authorities. It also plans to add 300 employees to its compliance operations, bringing the unit to 1,150 people by the end of the year. “The compliance unit is expected to grow even further,” the bank said in a statement on Friday.