Reported by The Local dk

Denmark’s financial sector regulator said on Tuesday that the bank Spar Nord carries a ‘high risk’ of being used for money laundering and financing of terror activities.

The assessment was announced by the Danish Financial Supervisory Authority (Finanstilsynet) in a statement in which it also said it had issued Spar Nord with a number of orders to tackle the issue.

The North Jutland-based bank must implement sufficient checks and procedures for “effective prevention, limitation and control of money laundering and terror financing risks,” the regulator said.

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