Aggregated News From Investment Management Regulators

EU tender – The Danish Financial Supervisory Authority is examin-ing the transaction monitoring in the largest banks in Denmark


Please complete the required fields.

The Danish Financial Supervisory Authority have committed itself to carry out a cross-sector AML inspection of transaction monitoring in the two largest banks in Denmark, Nordea and Danske Bank.

The inspection will be carried out in close collaboration with external consultants obtained through an EU tender.

The inspection is part of a current cross-sector AML inspection of transaction monitoring in the largest banks in Denmark.

Undertakings covered by the Danish Money Laundering Act must investigate the background and purpose of all complex and unusually large transactions as well as all unusual patterns of transactions and activities that have no apparent economic or demonstrable lawful purpose.

This cross-sector AML inspection is conducted because transaction monitoring is a core element in preventing money laundering and financing of terrorism and is considered to be among the more technically complicated elements of the AML prevention.

The Danish Financial Supervisory Authority has decided to focus on the largest banks, because of the large number of transactions and the different products and services offered by the banks.

The details of the tender are available on

Questions to this message can be addressed to Stig Nielsen on email [email protected]

The Danish Financial Supervisory Authority will bring an update, when the contract has been signed.

Source link

Regulator Information

Abbreviation: DFSA
Jurisdiction: Denmark

Recent Articles

Proposed Rule Change to Amend FINRA Rule 2231 (Customer Account Statements)

Financial Industry Regulatory Authority, Inc.

Revision of Recommendation 25 – White Paper for Public Consultation

The Financial Action Task Force (FATF) is conducting a review of Recommendation 25 (R.25) on the transparency and beneficial ownership (BO) of legal arrangements....

ASIC warns super trustees to be transparent in their underperformance communications to members

ASIC today released the findings from its review of superannuation trustees’ communications with their members following the first annual performance test for MySuper products. The...

EBA replies to European  Commission’s call for advice on the Mortgage Credit Directive review

The European Banking Authority (EBA) published today an Opinion and Report in response to the European Commission’s Call for Advice (CfA) on the review of the Mortgage Credit Directive (MCD) .

Get the latest from Regulatory.News in your inbox!