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Violation Tracker Individual Record

Company: Nordea Bank Abp
Current Parent Company: Nordea Bank
Penalty: $35,000,000
Year: 2024
Date: August 27, 2024
Offense Group: financial offenses
Primary Offense: anti-money-laundering deficiencies
Secondary Offense: banking violation
Mega-Scandal: Anti-Money Laundering Deficiencies
Violation Description: Nordea Bank Abp agreed to pay $35 million in penalties as part of a Consent Order entered into with the New York State Department of Financial Services for significant compliance failures with respect to Bank Secrecy Act/Anti-Money Laundering requirements and the Bank's failure to conduct proper due diligence of its correspondent bank partners.
Level of Government: state
Action Type: agency action
Agency: New York Department of Financial Services
Civil or Criminal Case: civil
Facility State: New York
HQ Country of Current Parent: Finland
Ownership Structure of Current Parent: publicly traded
Major Industry of Current Parent: financial services
Specific Industry of Current Parent: banking
Source of Data: (click here)
Source Notes: If an online information source is not working, check the Violation Tracker Data Sources page for an updated link.
Current parent company note: Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.