Statement regarding money laundering inspection in Danske Bank A / S CSD unit Vilnius, Lithuania
On 21 November 2019, the Danish Financial Supervisory Authority conducted an inspection in Danske Bank A / S ‘(the bank) Customer Services Delivery (CSD) unit in Vilnius, Lithuania. This was a functional study in the area of money laundering as part of the ongoing supervision of the bank and the group. The CSD unit performs a number of background functions in the bank for several of the bank’s units abroad in the money laundering area, including obtaining and updating customer information, transaction monitoring and sanction screening.
The bank is the largest bank in Denmark. The bank operates all types of banking business from simple deposit accounts for private customers to complex financial products for investors and full service banking solutions for traders of all sizes as well as asset management and investment. The bank has a very significant number of private customers, corporate customers and institutional customers, many of whom have complicated group structures and / or financial arrangements.
The purpose of the inspection was i.a. to examine what tasks the CSD unit performs in the bank in the money laundering area, how the work in the unit is organized and whether the cooperation and communication between the unit and the bank’s other departments works appropriately in relation to the bank’s compliance with the money laundering rules. The inspection focused, among other things, on whether there were circumstances that prevented the tasks from being solved in a reassuring way, including in particular the fact that the unit is located in a country other than the units responsible for receiving and monitoring customers.
The Danish FSA’s observations during the inspection have not given rise to supervisory reactions.