July 22, 2020 / 5:51 PM / 14 days ago

Danske ups anti-money laundering measures in Norway after FSA inspection

COPENHAGEN, July 22 (Reuters) - Danske Bank will strengthen its anti-money laundering measures in its Norwegian branch following an inspection by the country’s financial watchdog, Danske said in a statement late on Wednesday.

“In recent years, we have taken many initiatives to improve our efforts against economic crime, but unfortunately we have not succeeded completely in adapting to the new legislation in Norway,” country director for Norway Trond Mellingsaeter said.

Danske said it had allocated significant resources in order to implement 35 measures in order to comply with the Norwegian Financial Supervisory Authority’s findings.

Reporting by Nikolaj Skydsgaard in Copenhagen and Nerijus Adomaitis in Oslo Editing by Chris Reese

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