Nordic banks in anti-money laundering tie-up

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May 31 2018

Five of the biggest banks in the Nordics have clubbed together to set up joint anti-money laundering infrastructure after several of the lenders were hit by heavy criticism from regulators over lax controls. Sweden’s Handelsbanken, Nordea and SEB together with Denmark’s Danske Bank and Norway’s DNB intend to launch a joint venture to develop know-your-customer (KYC) infrastructure and it will begin by focusing on large and medium corporate customers.