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Nordea Under Investigation for Money Laundering


Nordea

writer icon Kristine Hanson     ISB   |   Business     🕐 18. Jun. 2019


On Wednesday July 12th, Nordea's Danish headquarters got a visit from the 'State Prosecutor for Serious Economic and International Crime' (SØIK).

SØIK seised a number of documents from the headquarters in Ørestad in connection with money laundering charges.

“We fully cooperate with SØIK to ensure that they have access to all relevant information. Apart from that, we do not currently have anything further to add”, Frank Vang-Jensen, Country Manager for Nordea in Denmark, writes to Danish paper Børsen.

Several billion Danish Kroner have passed through a number of accounts as suspicious transactions at a department located at Vesterport in Copenhagen. A department which closed was closed down in 2014.
After cases of money laundering by both Danske Bank and Swedish bank, Swedbank have been uncovered recently, SØIK is now taking a deeper look at Nordea's transactions.

”We [Nordea] will not be used to launder money nor any financial crimes. If we have been exploited by Russian oligarchs for money laundering, we regret it and distance ourselves from such behaviour,” Nordea's risk manager, Julie Galbo, said to Danish paper Berlingske.

However, Nordea had been warned about the possibilities of such practices as far back as 2013. 

”We tried to see if we could address [the problem] in another way, if we could build a defence and keep customers, and if we could find a suitable solution there. ...[We] finally found that it could not be made effective enough. So it was better to close the International Branch,” Galbo said.



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