Nordea Money Laundering Link to Panama Leaks Probed by FSA
(Bloomberg) -- So-called Panama Papers “potentially point to the same problems that we have seen in sanctions a year ago,” Uldis Cerps, executive director for banking at the Swedish Financial Supervisory Authority, says by phone.
- Banks have “potentially insufficient knowledge of customers and possibly presence of high risk customers, which need to be dealt with in a special manner,” he says
- “Our task as supervisors is to ensure that we follow up how the banks are meeting legal requirements for those breaches we sanctioned them a year ago,” Cerps says; “We will have this checked”
- Banks need to be “filtering transactions and generating alarms and exploring” clients from an anti-money laundering perspective, Cerps says
- NOTE: FSA last year fined Nordea SEK50m and Handelsbanken SEK35m for breaching anti-money laundering rules
Alert:
HALISTER1Source: BFW (Bloomberg First Word)
Tickers NDA SS (Nordea Bank AB)
0284798D PP (Mossack Fonseca & Co SA)
SHBA SS (Svenska Handelsbanken AB)
People Uldis Cerps (Swedish Financial Supervisory Authority)
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