(Photo: Reuters/Fabian Bimmer)
Denmark’s financial regulator has reported Danske Bank, the country’s largest bank, to the police for violating Danish anti-money laundering rules.
Danske Bank was ordered in 2012 to ensure that the banks with which it co-operated, so-called correspondent banks, had sufficient control procedures to reduce the risk of money laundering. Last year the Danish Financial Supervisory Authority (FSA) conducted an inquiry to see if it had followed this order.
“Based on the study’s conclusions, the FSA has reported the bank to the police for violation of the money laundering act’s clauses for correspondent banks, including failure to follow FSA’s order on the area from 2012,” the FSA said.
The original article can be found at reuters.com