Scandinavian bank Nordea in Denmark has been charged with laundering 3.5 billion euros from Russian clients, financial crime prosecutors said on Friday. "Nordea failed to properly investigate transactions of the bank's Russian clients and ignored warnings about currency exchange transactions in Copenhagen," – says the Danish National Special Crimes Unit in a statement. The money laundering took place between 2012 and 2015. Nordea reported that a fine would have to be paid for these crimes, so back in 2019 the bank reserved funds for these purposes. The amount of the fine will be determined by the supervisory authority. At the same time, the bank expresses regret that the case will be heard in court. "Nordea has repeatedly acknowledged that there were shortcomings in its systems and processes to combat financial crime at the time," the bank said in a statement. The meeting date has not yet been set. Since 2015, Nordea has spent about 1.5 billion euros fighting financial crime, according to the bank.
