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BREAKING: Fresh setback for Danske as Swedish Financial Regulator criticises bank for AML ‘shortcomings’; warns bank must improve controls within months

By Elizabeth Hearst for AMLi

Danske Bank has suffered its latest setback after the Swedish Financial Regulator slammed the bank for “shortcomings” identified in its anti-money laundering framework, warning Danske it must improve its controls by June of next year. 

In a statement, the Finansinspektionen said Danske had “deficiencies” in its AML regime, adding the bank had not “sufficiently assessed the risk of how the bank’s products and services in Sweden could be used for money laundering and terrorist financing”.

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