Home AML AML News Danske Bank plans culture revamp after money laundering scandal

Danske Bank plans culture revamp after money laundering scandal

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Danske Bank is aiming to overhaul its culture to encourage employees to report negative news after identifying the downplaying of criminal activity as the biggest flaw that led to a €200bn money laundering scandal.

Jesper Nielsen, Danske’s interim chief executive, told the Financial Times that Denmark’s biggest lender had a culture that “consistently reported too positively”, allowing managers to overlook the potential crimes being committed over a nine-year period.