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Klarna said the regulator's decision followed a routine review of its compliance with regulations and did not relate to actual cases of money laundering

Klarna fined for breaking anti-money laundering rules

Sweden's financial regulator has fined Klarna Bank 500 million Swedish crowns ($46m) for violating anti-money laundering rules.

Business • 11 Dec 24

Just over half of firms said they had automated some aspect of their onboarding of new customers

Many firms still doing manual AML checks

Three-quarters of financial services firms say they still use manual risk assessments to assess financial crime across their business, a survey by PwC has found.

Business • 06 Dec 23

The breaches at Danske Bank's Irish operations occurred over a period of almost nine years, between 2010 and 2019

Danske fined €1.82m for anti-money laundering breaches

The Central Bank has reprimanded and fined Danske Bank a total of €1.82m for three breaches of anti-money laundering laws.

Business • 15 Sep 22

The ruling marks another headache for Switzerland's second-biggest ban

Credit Suisse found guilty in cash laundering case

Credit Suisse has been convicted by Switzerland's Federal Criminal Court of failing to prevent money-laundering by a Bulgarian cocaine trafficking gang in the country's first criminal trial of one of its major banks.

Business • 28 Jun 22

Credit Suisse is the second biggest bank in Switzerland

Credit Suisse faces money laundering charges in trial

Credit Suisse will face charges in a Swiss court today of allowing an alleged Bulgarian cocaine trafficking gang to launder millions of euros, some of it stuffed into suitcases.

Business • 07 Feb 22

NatWest pleaded guilty in October to failing to prevent the laundering of nearly £400m

NatWest to pay £265m for money laundering offences

NatWest is to pay £265 million in fines, after pleading guilty to failing to prevent the laundering of nearly £400 million.

Business • 13 Dec 21

NatWest is the first UK lender to admit guilt to money laundering offences

NatWest pleads guilty to money laundering offences

NatWest has today pleaded guilty to failing to prevent the laundering of nearly £400m, the first bank in Britain to admit to such an offence.

Business • 07 Oct 21

Lacking any pan-EU authority to stop dirty money, Brussels has relied on national regulators to enforce its rules

EU to propose new body to tackle dirty money

The European Union will propose a new agency to crack down on money laundering and new transparency rules for transfers of crypto-assets, EU documents show.

Business • 08 Jul 21

Danske Bank last year completed an internal investigation into its non-resident portfolio in the now shuttered Estonia branch and handed it over to authorities

Danske Bank may have to look into Estonia case again

Danske Bank said today it may be required by authorities to conduct a further investigation into its former Estonian branch, possibly prolonging a money-laundering saga that has dogged Denmark's biggest lender for years.

Business • 28 Apr 21

ABN Amro said it had agreed to pay a fine of €300m and €180m as disgorgement

ABN Amro to settle money laundering probe for €480m

Dutch bank ABN Amro said today it had reached a €480m settlement with prosecutors in the Netherlands over money laundering allegations, which will impact its first-quarter results.

Business • 19 Apr 21

Danske Bank has reported a fourth-quarter net profit of 1.45 billion Danish crowns ($234.06m)

Danske looks forward to lower costs, impairments

Danske Bank said today it expected profits to come in higher next year due to lower costs and fewer impairment charges after reporting fourth-quarter net profit slightly below expectations.

Business • 04 Feb 21

The new register was established by the Central Bank on foot of EU anti-money laundering and counter-terrorism directives

Central Bank opens new Beneficial Ownership Register

The Central Bank has opened its Beneficial Ownership Register to make available information on the owners of certain types of investments and funds.

Business • 01 Feb 21

The Central Bank has found an overall lack of compliance among financial firms with anti-money laundering obligations

Central Bank finds anti-money laundering policy fails

The Central Bank has found an overall lack of compliance among financial firms with anti-money laundering and terrorist financing obligations.

Business • 16 Dec 20

The cleaning of dirty money is big business

The big business of cleaning dirty money

A number of money laundering operations have been uncovered by Gardaí and British police in recent times.

Business • 30 Sep 20

Wirecard filed for insolvency last month owing creditors almost $4 billion after disclosing a €1.9 billion hole in its accounts

Germany probes Wirecard for money laundering

German state prosecutors are investigating Wirecard for suspected money laundering, a spokeswoman for the Munich prosecutor's office said today.

Business • 09 Jul 20

Estonia's financial regulator ordered Dankse Bank to leave after it admitted that €200 billion in suspicious payments had been made via its Tallinn branch

Danske Bank loan sale calls time on scandal-hit Estonia

Danske Bank has agreed to sell its remaining Estonian portfolio to local bank LHV, marking an end to a unit that was at the centre of one of Europe's biggest ever money laundering scandals.

Business • 08 Jun 20

The new supervisor could be part of the European Banking Authority, or a standalone entity

European Commission mulls money laundering authority

The European Commission is considering creating a new authority to police financial crime and monitor banks more strictly, it has said, confirming a Reuters report.

Business • 07 May 20

The PSNI searched 15 properties over the past two days

Seven arrested in £215m money laundering investigation

Seven people have been arrested in Northern Ireland as part of an investigation into international money laundering of criminal assets worth around £215 million (€252m).

Ulster • 21 Jan 20

European Union finance ministers have backed plans for greater powers to combat money laundering

EU agrees tighter money-laundering supervision steps

European Union finance ministers today backed plans for greater powers to combat money laundering after a series of revelations about large amounts of dirty money flowing through European banks.

Business • 05 Dec 19

A confidential ECB report has detailed 'severe shortcomings' at Bank of Valletta that could have allowed money laundering or other criminal activities

ECB flags failings in money screening at Malta bank

Malta's biggest bank failed for years to detect or address risks involving thousands of payments, the European Central Bank said, detailing "severe shortcomings" that could have allowed money laundering or other criminal activities.

Business • 21 Nov 19

Westpac CEO Brian Hartzer said he was 'disgusted and appalled' by the bank's alleged breaches

Westpac facing 23 million money laundering breaches

Regulators have accused Australia's Westpac Banking Corporation of 23 million breaches of anti-money laundering laws.

Business • 20 Nov 19

Danske Bank said its hiring freeze would not include critical positions such as regulatory jobs

Danske Bank stops hiring new staff amid higher costs

Danske Bank said it has started a hiring freeze to cope with rising compliance costs and a tough business environment.

Business • 10 Oct 19

Dutch prosecutors said they believe that ABN Amro reported suspicious transactions too late or not at all over a lengthy period

Dutch bank ABN Amro subject to money laundering probe

ABN Amro is being investigated for money laundering in a new blow to shares in the Dutch bank, which prosecutors allege failed to report or probe suspicious transactions for years.

Business • 26 Sep 19

Danske Bank is under investigation over suspicious payments totalling €200 billion moved through its Estonian branch between 2007-2015

Former Danske Bank Estonian chief found dead by police

A former head of Danske Bank's Estonian branch, which is at the centre of inquiries into the world's largest money laundering scandal, was found dead today.

Business • 25 Sep 19

The EU has reviewed existing rules and practices to identify the shortfalls and counter illegal flows that Europol estimates could be over €200 billion a year

EU urges reforms against flow of 'dirty money'

The European Commission said today that more should be done to counter the multi-billion-euro flow of dirty money in the European Union.

Business • 24 Jul 19

Money Laundering