COPENHAGEN, May 4 (Reuters) – The Danish financial supervisory authority (FSA) said on Monday it had asked Danish police to investigate whether Nordea Bank has failed to comply with money laundering regulations on customer due diligence in Denmark.
• The FSA said in a statement it had assessed that Nordea did not have sufficient knowledge of individuals within a larger group of customers who were issued with credit cards.
• “The company did not conduct a sufficient assessment of why the customer wanted a credit card and what the credit card was to be used for,” the watchdog said.
• It added that it assessed there was a systematic deficiency and that the notes Nordea had made in its customer files were insufficient to assess the purpose and intended nature of the business relationship.
• In addition, it said Nordea had failed to conduct a risk assessment, including risk classification, for a large group of customers.
• “The company thus failed to address whether there were specific risk factors that, from a money laundering and terrorist financing perspective, entailed an increased risk associated with the customer relationship,” it said.
• Nordea did not immediately respond to a request for comment when contacted by Reuters via email.
(Reporting by Jesus Calero in Gdansk and Louise Rasmussen in Copenhagen, editing by Terje Solsvik)