Denmark’s financial watchdog said on Thursday it had asked the state prosecutor to investigate Copenhagen Cooperative Bank for a suspected breach of the country’s money laundering act.
Based on an inspection in June, the Financial Supervisory Authority said it suspected the small retail bank did not take appropriate measures to counter the risk of money laundering or terrorist financing in certain customer relationships, the FSA said in a statement.
Copenhagen Cooperative Bank did not immediately respond when contacted by Reuters via email and phone.
The state prosecutor earlier this month started a criminal investigation into Danske Bank, over allegations it had been involved in money laundering through its Estonian branch.
Re-disseminated by The Asian Banker from Reuters