Danske Bank has paid a total of NOK 3 million in coercive fines to the Financial Supervisory Authority (Finanstilsynet) following breaches of money laundering rules.
For more than five months, the bank has paid daily fines to the Norwegian authorities for breaches of money laundering rules. The information was revealed in a decision from Finanstilsynet in Denmark, newspaper Dagens Næringsliv (DN) writes.
The breach of the money laundering rules in Norway is one of the reasons why the Danish Financial Supervisory Authority has now decided that one or more external experts will monitor the bank’s work on preventing financial crime.
The Danish Financial Supervisory Authority writes that their Norwegian colleagues in 2019 carried out an inspection in Danske Bank’s Norwegian branch.
Four mandatory requirements were set forward for the bank at the time, but the bank fulfilled only two of these by the set deadline.
For the other two, daily fines totaling around NOK 3 million have so far been paid.
“We take the requirements and the daily fines from Finanstilsynet extremely seriously,” Bent Eidem, head of the department working against economic crime at Danske Bank Norge, told DN.
He noted that the bank expects to resolve one more mandatory requirement in the first quarter. It remains unclear when the final one will be met.
Source: © NTB Scanpix / #Norway Today / #NorwayTodayFinance
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