NORDEA Bank was back in the news for all the wrong reasons again today (Tuesday) when it agreed to pay a $35 million civil fine to settle AFC charges by a top New York regulator. The Finland-listed bank failed to properly police money laundering and other criminal activities, including matters uncovered in the Panama Papers…
ABAC, AML, Banking, Compliance, Financial Crime, News, North America, US
NEWS: Nordea’s inadequate CDD, high-risk banking partners, Panama Papers links lead to $35m US fine

FINED: New York state financial services superintendent Adrienne Harris faulted Nordea's inadequate due diligence over customers and high-risk banking partners, saying even the bank recognized its oversight faced a "critical" risk of failure.