HomeEconomyDenmark's largest bank has...

Denmark’s largest bank has been accused of laundering $4 billion in Russian funds

Image: Getty Images

The bank was unable to monitor the transactions of Russian clients and ignored the warning of local authorities.

Danish authorities have accused Finnish banking group Nordea, Scandinavia’s largest in terms of assets, of laundering money from Russia. Suspicious transactions worth DKK 26 billion ($3.75 billion) were discovered at the bank’s Danish subsidiary between 2012 and 2015, all linked to numerous Russian clients. Danmarks Radio reported this on Friday, July 5.

function news4698167() {
$.get(‘//’ + window.location.host + ‘/ajax/module.aspx?spm_id=444&id=4698167&lang=2&IsAjax=true’, function (data) { $(‘#nk4698167’).html(data); });
}

news4698167();

The alleged money laundering case at Nordea Bank is the most capital-intensive in the history of the Danish banking sector.

The bank was unable to adequately control the transactions of Russian clients through its Copenhagen office and ignored the warning of the Danish authorities.

The country’s financial regulator first contacted police over Nordea’s suspicious transactions in 2016.

Nordea Bank has previously admitted on several occasions that there were shortcomings in their systems to fight financial crime at the time.

In April 2019, Nordea wrote in its quarterly reports that it would face large fines for its failure to prevent money laundering.

Nordea has been operating in Russia since 1994. In the 2010s, its Russian subsidiary was one of the 30 largest banks in the country.

After the annexation of Crimea and the first wave of Western sanctions, the Finnish group began to phase out its Russian business, and in 2020 decided to liquidate its subsidiary in the Russian Federation.

Media say the case against Nordea is not the only serious case of money laundering to hit the Danish banking world.

Raiffeisen Bank is being investigated in connection with money laundering and work in the Russian Federation
New Correspondent.net on Telegram and WhatsApp. Subscribe to our channels Athletistic and WhatsApp

Source: korrespondent

- A word from our sponsors -

Most Popular

LEAVE A REPLY

Please enter your comment!
Please enter your name here

More from Author

- A word from our sponsors -

Read Now

Ukrainian sleepers, attacking the industrial zone of the non -frauded plant “Lucuel” in the Nizhny region in Novgorod

In the city of KSTVO, Nizhny of the Novgorod region of the Russian Federation, after high -profile explosions, the Bitumen Lukuil plant caught fire. .in_text_content_22 {width: 300px; Height: 600px; } @Media (min-width: 600px) {.in_text_content_22 {width: 580px; Height: 400px; }} .Adsbygoogle {Touch-Action: Manipulation; } ...

EC can dig up the fabric on lobbyists of its climate station

The Welt Am Sonntag newspaper gained access to secret documents and found that the EU, obviously, spent tax money on dubious lobbying activities to convince the public in its climatic policy. .in_text_content_22 {width: 300px; Height: 600px; } @Media (min-width: 600px) {.in_text_content_22 {width: 580px; Height:...

One does not go, the other was injured, the third – with the tail: “Belik Angels” Evakuirod, who are women from burning (video)

The Police of the White Angel evacuated three elderly women from the border. .in_text_content_22 {width: 300px; Height: 600px; } @Media (min-width: 600px) {.in_text_content_22 {width: 580px; Height: 400px; }} .Adsbygoogle {Touch-Action: Manipulation; } The evacuation was not simple. Two women were brought...

5 doramas about music you need to watch

Check out some South Korean doramas with music-oriented plots you need to watch during the weekendIn recent years, South Korean music has become increasingly loved worldwide. This growth is part of Hallyu, the Korean wave, which is mainly due to the popularization of K-Pop, which has been...