Wednesday , September 28 2022

Björn Wahlroos releases Nordea from laundering money


This article has added to correction.

Nordea has been a hot air for a long time. The movement of the Swedish bank is criticism of inadequate customer friendliness and most recently the allegations of being part of money laundering. The bank chairman, Björn Wahlroos, was able to meet all the issues at the Annual Banking Meeting.

– I believe that money laundering is a bad concept. As a bank, we are a pay platform that deals with millions of transactions without having full information of all. But over the last ten years, we have worked hard to strengthen control, it's stressing.

According to him, he is Nordea has a lot of resources, about half a billion euros (five billion) to solve the problems. It involves, among other things, building new systems and tightening the habits.

Many bank customers have not chosen to come to us, says chairman of Nordea, Björn Wahlroos.

Björn Wahlroos is also chairman of the Finnish Sampo insurance company, who has previously sold his bank operations to Danske Bank. The part of the bank based in Estonia was later disclosed as the place for Russian money laundering.

"Something happened after the transfer and I do not share," he said.

But, according to Björn Wahlroos, it is important that Russia's opinion has changed strongly over the last decade. It does not want to develop the theme closer, but it seems that the corruption that has penetrated the east on different ways.

In the case of Nordeas Moving from Sweden, the Board Chair of the Bank has no choice. The decision was the best for the shareholders and therefore it was inevitable to take it. But he would have liked to leave Nordea to keep the headquarters in Stockholm.

"The issue has been discussed for several years, including the Finance Minister Magdalena Andersson, but it was not possible to find a solution that suits the bank and, on our part, there was no choice but to move .

What was the main issue was the regulation of Swedish banks, where Nordea could get cheaper as it was headquartered in Finland instead of the EU Banking Union. This suggests lower requirements than in Sweden.

Swedish customers Nordea it is not very satisfied, as can be seen by different measurements. Björn Wahlroos admits that the bank is not seen positively in Sweden:

"Partially because Nordea is the result of a merger. Many bank customers have not chosen to come to us, it's stressed.

2018-11-09 00:55 In a previous version, the wrong adjustment was reported by half a billion euros.

Read more:

The silver laundering force around Nordea is growing

Putin's biggest enemy was behind the notice against Nordea

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