Swedbank to conform with AML/CTF regulations after Danish FSA decision

Thursday 25 November 2021 13:27 CET | News

Sweden-based Swedbank has announced that Denmark’s financial watchdog had decided that the Swedish bank’s branch in the country must adapt its AML and CTF regulations.

Swedbank said it had updated the routines and processes used in AML/CTF work at group level, while modifications at the Danish branch had not been made quickly enough.

The bank’s officials stated that the DFSA's decision refers to shortcomings in routines and processes, not whether money laundering/terrorism financing has taken place in Swedbank's Danish branch, which has a limited number of customers and one office.

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Keywords: AML, regulation, digital identity, fraud prevention, banks
Categories: Securing Transactions | Digital Identity, Security & Online Fraud
Countries: Denmark
This article is part of category

Securing Transactions