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Denmark Bags First AML Fine Against Financial Institution

By Gabriel Vedrenne

Denmark's Financial Supervisory Authority, or FSA, assessed its first-ever fine against a financial services company this month, extracting €165,000 from Forza Leasing, a car rental service, after an onsite inspection revealed significant anti-money laundering shortcomings. The fine is negligible compared to the tens of millions of euros that regulators in other European countries have claimed from financial institutions but still represents a significant milestone for the Nordic nation, which has long invited criticism for allegedly taking a lax approach to enforcing AML rules. "AML is already a priority in Denmark," Mette Slotved Thomsen, Nordic head of financial crime with EY...

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