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...
Stay ahead of the curve
In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.
Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
Create custom alerts for specific article and case topics and so much more!