Looking The Other Way: Recent Cases Of AML And Sanctions Failings In Scandinavia

Regularly topping annual lists of the most transparent and least corrupt countries in the world, the Scandinavian nations of Norway, Sweden and Denmark have enjoyed a reputation for honesty, trust and fairness. When reports surfaced that some of its banks may have been used to funnel ill-gotten Russian funds into Western economies the initial response was for many one of disbelief. As investigations began to scratch the veneer off, a different picture emerged: one of poor anti-money laundering controls, sanctions violations and See more +
Regularly topping annual lists of the most transparent and least corrupt countries in the world, the Scandinavian nations of Norway, Sweden and Denmark have enjoyed a reputation for honesty, trust and fairness. When reports surfaced that some of its banks may have been used to funnel ill-gotten Russian funds into Western economies the initial response was for many one of disbelief. As investigations began to scratch the veneer off, a different picture emerged: one of poor anti-money laundering controls, sanctions violations and looking the other way while there was money to be made.

Axel Threlfall, Reuters Editor-at-Large is joined by Susannah Hammond, Thomson Reuters Senior Regulatory Intelligence Expert in an engaging televised discussion on the findings of this special report. See less -

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