Region

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2026-05-04

Police Report on Nordea Finans Danmark A/S for Violation of the Money Laundering Act

The Danish Financial Supervisory Authority has requested a police investigation into Nordea Finans Danmark A/S for systemic failures in customer due diligence and risk assessment procedures, particularly concerning credit card issuance. The regulator determined that the company lacked sufficient knowledge of a large customer group, failed to document the purpose of business relationships, and omitted mandatory risk classifications from a money laundering and terrorist financing perspective. These violations constitute grounds for criminal liability under Section 78 of the Danish Money Laundering Act.

Denmark

Finanstilsynet Denmark

Decision 04-05-2026 On 4 May 2026, the Danish Financial Supervisory Authority (Finanstilsynet) requested the National Unit for Serious and Economic Crime (NSK) to initiate a detailed police investigation into Nordea Finans Danmark A/S. The police report was submitted following a money laundering inspection conducted from 7 to 9 June 2023 at Nordea Finans Danmark A/S and concerns a possible violation of Section 11, subsection 1, item 4, Section 11, subsection 3, and Section 30 of the Money Laundering Act.

It is the Danish Financial Supervisory Authority's assessment that the company did not have sufficient knowledge of a large group of customers.

For a large customer group that was issued 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. It is the Danish Financial Supervisory Authority's assessment that this constitutes a systematic deficiency, and that the notes the company made in the customer files are insufficient to assess the purpose and intended nature of the business relationship.

Furthermore, the company did not conduct a risk assessment, including risk classification, for a large group of customers. The Danish Financial Supervisory Authority assesses that the company thereby failed to consider whether there were any special risk factors that, from a money laundering and terrorist financing perspective, entailed an increased risk associated with the customer relationship.

The Danish Financial Supervisory Authority assesses that Nordea Finans Danmark did not comply with the Money Laundering Act's rules on customer due diligence procedures for the customers in question, and that the violations form the basis for criminal liability under Section 78 of the Money Laundering Act.

See also Inspection Report dated 12 January 2024 regarding the inspection at Nordea Finans Danmark A/S.

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