Danske Bank, Nordea say cooperating with authorities in money laundering probe


Reuters

COPENHAGEN, March 20 (Reuters) - Denmark'sDanske Bank
<DANSKE.CO> and Sweden's Nordea <NDA.ST> said on Monday they
were cooperating with authorities over possible incidents of
money laundering via their overseas branches from 2011 to 2014.
    Danish newspaper Berlingske reported on Monday that the two
banks were being investigated by authorities in Moldova and
Latvia over money laundering.
    More than 7 billion Danish crowns ($1.0 billion) was
transferred to accounts in the two banks from 2011 through 2014,
the newspaper said citing data it had accessed in cooperation
with the journalist organisation Organized Crime and Corruption
Reporting Project.
    Danske Bank said in a press release that the transactions
were almost exclusively carried out at its Estonian branch, and
that the bank had already discussed them with Danish and
Estonian authorities. The Danish Financial Supervisory Authority
reprimanded it over the matter last year, it said.
    "At the time, our systems and procedures in Estonia were
insufficient to ensure that we could not be used for money
laundering," Group General Counsel at Danske Bank Flemming
Pristed said in the press release.
    "We have taken the measures necessary to remedy this," he
said.
    A Nordea spokesman said the bank would "never tolerate"
being used as a base for money laundering. He said that the
transactions in the Swedish bank took place between 2012 and
2014 and that the bank had since begun an extensive programme
against money laundering.
    "We will of course cooperate fully with the authorities,"
the Nordea spokesman said.

 (Reporting by Teis Jensen, additional reporting by Johan
Sennero and Johan Ahlander in Stockholm; Editing by Hugh Lawson)
 ((teis.jensen@thomsonreuters.com; +45 33969653; Reuters
Messaging: teis.jensen.thomsonreuters.com@reuters.net))

Keywords: DENMARK BANKING/



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