Sweden Finds Flaws in Nordea's Anti-Money Laundering Defenses

Sweden’s financial watchdog has identified weaknesses and deficiencies in Nordea Bank Abp’s work to counter money laundering.

The findings were made in a review this year of how Nordea follows rules in areas such as risk assessment and client knowledge and included in a letter sent by the Swedish Financial Supervisory Authority to Nordea’s management and board.