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.