Large Banks gets a million fine – Aftonbladet

Two major Swedish banks fined by the FSA in the millions after they followed the rules on money laundering.

The Authority considers that the banks have thus made it possible for terrorist organizations to finance their business.

The Financial Supervision Authority in a press release that Nordea and Handelsbanken will have to pay 50 million and 35 million in penalties.

“This means that if people have wanted to launder money or finance terrorism, they have very likely been able to do it without that Nordea had the opportunity to discover it. It is very serious, “writes the FSA.

Bank warned by the FSA after they followed the rules on money laundering for several years. According to the review, the Bank has lacked the necessary systems in place to detect and prevent money laundering, writes authority.

Handelsbanken convicted for not following rules on money laundering. And the bank’s system to make risk assessments and review transactions have been inadequately says the FSA.

“The shortcomings are significant and means that Handelsbanken expired likely to be used by people to launder money or finance terrorism,” writes authority.