Banks face tougher scrutiny of risk under new Danish money-laundering law


Denmark’s Financial Services Authority plans tougher scrutiny of how banks assess the risk of money laundering when a new law to combat the crime comes into effect this month, the regulator told Reuters. The FSA will “fairly quickly” check whether banks have set up the more in-depth risk assessments of customers, products, services, transactions and geographical areas that the new law orders them to, deputy Director General Thomas Brenoe said. Banks operating in Denmark, including market leader Danske Bank and Stockholm-based Nordea, have boosted staff levels at anti-money-laundering (AML) units in preparation for the legislation.