Nordic and European cooperation
The collaboration with Swedish banks and the Swedish policy authority is the latest example of Danske Bank’s ongoing cooperation with supervisory authorities and other banks across the Nordics and in Europe.
In Denmark, a close collaboration with Finance Denmark has led to 25 joint recommendations for how the financial sector and the authorities can improve their efforts to combat financial crime. On a Nordic level, Danske Bank is developing a platform for handling and administering KYC data with the five largest banks in the Nordics. Danske Bank is also represented in a European AML taskforce, led by the independent think tank Center for European Policy Studies (CEPS), to develop recommendations for an improved EU regulatory framework on anti-money laundering.
“Globally, financial crime costs society billions of dollars each year, and criminals often use complex arrangements that can be difficult to identify. Danske Bank has a strong focus on this by leveraging technological solutions but also by ensuring, we have clear processes in place and extensive KYC work to prevent financial crime. We actively participate in industry initiatives across the Nordic and Europe to help the industry, collectively, be more effective against combating economic crime,” says Satnam Lehal, Head of Financial Crime.