Nordea is to pay 35 million dollars, equivalent to approximately 356 million kronor, after reaching a settlement with American authorities.
The American New York State Department of Financial Services (DFS) has been conducting an investigation into the company's Danish branch for suspected breaches of money laundering regulations during the period from 2008 to 2019.
It is now clear that the parties have reached a settlement.
The company writes in a press release that it previously underestimated the "complexity" of the work involved in preventing certain forms of economic crime.
"The bank has taken significant measures to improve processes and routines for combating economic crime since the period covered by the DFS investigation," says Jamie Graham at Nordea in the same press release.
