Nordea Sets Aside €95M For Possible Laundering Penalty
Law360, London (April 30, 2019, 7:09 PM BST) -- Nordic lender Nordea Bank has put aside €95 million ($106.5 million) for a possible fine related to money-laundering allegations, the lender said Tuesday as it reported heavy losses for the first three months of the year.
Nordea Bank AB, which has featured in reports of money-laundering scandals in the Nordics alongside Swedbank AB and Danske Bank A/S over the last 12 months, said it expected to be fined for weak anti-money laundering defenses by authorities in Denmark.
"This quarter, there has been an intense debate about various anti-money laundering issues," Casper von Koskull, Nordea's chief executive, said in a statement. "It...
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