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Jesper Berg

How to Combat Money Laundering in Europe

Denmark’s financial regulator sees six ways to help banks identify high-risk activity.

Let’s work together.

Let’s work together.

Photographer: Emil Helms/AFP

Good luck finding a major bank in Europe that hasn’t breached money laundering regulations.

In Denmark, the two largest banks, Danske Bank and Nordea, are both currently subject to criminal investigations. BNP Paribas received the highest-ever fine in 2014, when it settled with U.S. authorities and had to pay $9 billion for sanctions violations. Many others — from HSBC and Standard Chartered in the U.K. to Deutsche Bank and UBS and Credit Suisse — have had to answer for offenses.