Danish Watchdog Tells Swedish Bank To Boost AML Efforts

Law360, London (November 14, 2019, 5:13 PM GMT) -- Denmark’s financial regulator said Thursday it has ordered the Danish arm of Swedish bank Handelsbanken to strengthen its anti-money laundering efforts after an inspection found an “inherent risk” that the subsidiary would be used to move dirty money.

The Danish Financial Supervisory Authority told Handelsbanken AB it must do more to combat money laundering and terrorism financing and revise its risk evaluation.

The regulator carried out an inspection of the Danish unit in March 2019, which looked into its risk assessment, policies and procedures for preventing money laundering and its internal controls. The inspection as scrutinized "know your customer" checks by the...

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