Nordic Regulators Propose Bigger Fines, Prison in Response to Money-Laundering Scandal

Hit by a money-laundering scandal involving their biggest banks, Nordic policy makers are stepping up the region’s defenses. Here is a list of actions and proposals made by governments and financial watchdogs across the Nordic countries.

Denmark has said it wants to implement some of Europe’s toughest anti-money laundering rules. Since the Danske Bank A/S scandal erupted last year, the country has raised fines eight-fold and added the prospect of prison sentences to the list of penalties executives may face. The Financial Supervisory Authority has also received additional resources to cope with the burden of handling the Danske case, and the government has signaled more measures will follow.