News

Some problems can only be solved by the police. Just ask Denmark's Financial Supervisory Authority. On Monday, the FSA recommended a criminal investigation into Jyske Bank, the country's third-largest lender, after discovering "significant" gaps in the company's defenses against financial crime. Jyske Bank's latest problems in Denmark came to light late last year after a deep dive into the lender's portfolio of hundreds of mortgages in Southern Europe and accounts held by foreign clients of its private banking unit found shortcomings in the areas of due diligence, risk assessment and management, record keeping, and reporting of suspicious transactions. The bank's...