Copenhagen Cooperative Bank suspected to be in violation of Denmark’s money laundering act: Denmark’s Financial Supervisory Authority

The FSA stated it has directed the country’s prosecutors to investigate whether the small bank complied with the country’s money laundering act.

On Thursday, Denmark’s financial watchdog stated it has directed the state prosecutor to investigate Copenhagen Cooperative Bank for a suspected breach of Denmark’s money laundering laws.

In a statement, Denmark’s Financial Supervisory Authority (FSA) stated it suspects that Copenhagen Cooperative Bank did not take necessary measures to counter the risk of money laundering in certain customer relationships.

Copenhagen Cooperative Bank did not immediately respond to requests for comment.

Earlier this month, Denmark’s state prosecutor said, based on its inspection of the bank’s accounts in June 2018, it had started a criminal investigation into Danske Bank, Denmark’s biggest lender, over allegations that it had been involved in money laundering through its Estonian branch.

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