Danske Bank supports CBS research on anti-money laundering

Danske Bank co-finances a new research project at Copenhagen Business School, which will contribute to the fight against financial crime. The aim is to gain more knowledge about the fight against money laundering, among other things, in order to strengthen the efforts in this area.

Danske Bank supports the four-year research project Nordic Finance and the good Society – a Sustainable Nordic Finance sector in a Disrupted Environment at CBS. The research will offer specific knowledge and useful tools to help ensure that the financial sector can cope with the challenges that the sector faces, including that of financial crime.

Danske Bank’s support centres on research in risk management and anti-money laundering, which will focus, among other things, on the creation of new anti-money laundering systems and the legal changes that may be needed in the future.


By supporting research, we hope to help ensure a better understanding of how we can optimise our efforts and what specific tools we can use. We want to make sure that we can go even further in the fight against money laundering and terrorist financing as a sector and as a society.

Philippe Vollot

Chief Compliance Officer, Danske Bank



“The fight against financial crime is very important, not only for us but also for the societies we are part of, and it is a fight we want to contribute to on all fronts. By supporting research, we hope to help ensure a better understanding of how we can optimise our efforts and what specific tools we can use. We want to make sure that we can go even further in the fight against money laundering and terrorist financing as a sector and as a society,” says Danske Bank’'s Chief Compliance Officer, Philippe Vollot, and continues:

“As criminals are using increasingly sophisticated methods and money laundering has become a global problem, it is critical that we, in the Nordics, remain up to date on current developments and ensure we do not get exploited. It is therefore important that researchers, the financial sector and the authorities should cooperate to learn from each other’s knowledge and experience."

Cornerstones in our fight against financial crime


People

Partnerships

Processes


CBS: Important opportunity to move forward

Copenhagen Business School sees anti-money laundering as an area that is in need of further research and welcomes Danske Bank’s contribution. Professor Tom Kirchmaier, who will lead the initiative at CBS and has been working in the field of financial and organised crime for many years, sees the project as an important opportunity to move forward.

“Understanding financial and organised crime, and the associated money laundering activities, is one of the major remaining black boxes for the global scientific community. Our understanding is still scanty, and the associated detection mechanisms probably suboptimal. This is a global problem, with obvious implications for Denmark. I am very pleased that Danske Bank will support my team’s research to better understand the issues and, in particular, to help develop better detection mechanisms to make the entire process more effective and efficient.” says Tom Kirchmaier.

One out of eight projects on challenges in the financial sector
Danske Bank’s contribution is targeted at Risk Management & Anti-money Laundering, which is one of eight projects at CBS, all of which are concerned with the challenges facing the financial sector of the future.

Specifically, Danske Bank will contribute DKK 750,000 annually in the period from 2020 to 2023. 

Other supporters of the research project

In addition to Danske Bank, the Nordic Finance and the good Society – a Sustainable Nordic Finance sector in a Disrupted Environment research project is also supported by

  • Financial Services Union Denmark
  • Nordic Financial Union
  • Handelsbanken
  • Sparinvest
  • CPH Business
  • DLA piper

Read about CBS’s Nordic Finance and the good Society research project