Nordea has put 30,000 hours of work at the Panama-investigation – Business World

     Nordea has had over 60 people employed by going through documents on the Panama scandal.

Nordea has had over 60 people engaged in for more than a total of 30,000 hours of work to go through thousands of documents from the so-called Panama scandal .

“Great people and hours have been necessary to do this. we have a pretty clear picture of where we are now – and I have a very clear picture of where we should, “says CEO Casper von Koskull in connection with the presentation of the internal investigation, Nordea has around disclosure.

” I feel great confidence that this is a robust and credible investigation, “said Casper von Koskull .

Nordea chief says he to some extent feel at ease from the conclusion that there is no evidence that Nordea employees proactively would have contributed to tax evasion.

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“But I am very disappointed that the implementation of our policies has been insufficient. It is unacceptable,” he states, saying that Nordea will implement all the recommendations from the investigation.

Among other things, include that it will be a much stricter management of operations in Luxembourg – as a truly integrated part of Nordea’s global operations in private banking.

Casper von Koskull repeat his message that Nordea can not accept that the bank is used as a platform for tax evasion. Paying taxes is the responsibility we have as individuals and companies, he pointed out.

At the same time the ethical bar that bank be higher than just following the rules which are, argue Nordea boss.

“to be the best in class in compliance issues,” he says.

Nordea’s internal investigation led by Nordea Group Compliance and Nordea Group Operational Risk, with advice and support from Mannheimer Swartling and local audit and law firms.