Reports of alleged shady dealings come to light…
by Manoj Sharma for CNR
Sweden’s finance industry regulators recently received a report alleging Finland-based Nordea Bank was embroiled in a money laundering scandal. As per the reports, the bank accepted shady money from two banks in the Baltics. And now another case has come to light.
As told by Forbes, the current case is associated with one involving a Denmark-based Bank, Danske, which has been accused of being heavily involved in dirty tactics with Eastern European clients and banks. The authorities have been notified of about 200 billion Euros in ‘suspicious’ transactions.
SVT, Sweden’s public broadcaster, reported that about 365 individual bank accounts of Nordea are allegedly receiving payments amounting to almost 150 million Euros. Additionally, there are said to be forged invoices from shell companies as well.
A few payments to Nordea, as reported by the Financial Times, came from Danske Bank’s branch in Estonia, which currently is under the spotlight for laundering money and as a consequence is facing a huge penalty. And a few other ‘suspicious’ transactions were discovered from a bank in Lithuania.
According to the report, many of these transactions went to Nordea’s branches in Denmark and some found their way to banks in Norway, Sweden and Finland.
Nordea spoke to Reuters this week about the report, stating “we are aware of the report, and at Nordea we work closely with the relevant authorities in the countries in which we operate, including the Nordic Financial Intelligence Units. In any cases where we deem it to be suspicious transactions, we report it to the authorities for them to take forward”.
More as we get it.