March 17 2017
The Danish banking industry has not done enough to curb money laundering in foreign tax havens, according to a Financial Supervisory Authority (FSA) review in the wake of the Panama Papers leak in April 2016.
The Panama Papers, which comprised 11.5 million leaked documents from the Panamanian tax solutions firm Mossack Fonseca, implicated several banks and institutions that operate in Denmark, including Jyske Bank and Nordea.
Eight major banks were informed by the FSA in May 2016 that they were under review. They were asked to submit customer information and others information to assess if they were in violation of any Danish or European Union legislation. The FSA report confirms that no new violations have been committed since May 2016 release and that any previous violations have been reported to the police.