Preventing financial crime

Determined woman

Being a responsible member of society

At Nordea, the cornerstone of our business is being a responsible member of society. We use our skills, expertise, knowledge and relationships to make a positive difference to society and our customers, external stakeholders, authorities and other counterparties.

We are committed

Financial crime is a serious threat to the security and integrity of the global financial system, including Nordea. We are committed to preventing Nordea from being used for any illegal activity. Strong financial crime risk management practices are one of the most powerful tools in combating financial crime. Managing the risk of financial crime is vital to achieving Nordea’s commitment to serving as a positive contributor in society.  

Nordea’s Code of Conduct states the bank’s commitment to ethics, honesty and sincerity. Nordea expects all employees, business partners, suppliers and contractors acting on behalf of Nordea to act with integrity and high ethical standards and without actions involving money laundering, funding of terrorist acts, violating sanctions regulations, fraud or bribery and corruption.

Prevention of financial crime protects not only the financial system and our customers, but also society at large. Knowing our customers helps us to provide them with better service, and it is also our responsibility as a member of the global banking community to have robust Know Your Customer instructions and processes in preventing and detecting financial crime.

Nordea is committed to complying with all applicable Anti-Money Laundering /Counter Terrorist Financing, Sanctions and Anti-Bribery and Corruption laws and regulations in the jurisdictions in which it operates. Therefore we have established global policies in order to achieve robust and consistent standards of compliance in such jurisdictions. Nordea’s global policies support the broader customer strategy, values and vision, and provide a uniform set of risk management principles and mandatory standards throughout the Nordea Group.

Woman looking at her phone

Fighting cybercrime

  • Cyberterrorism has become a growing threat, and one we take seriously. To combat it, we coordinate our efforts internally, work with other banks across Europe and take advice from specialists in this area. We now have a layered security approach, ensuring that a single point of failure would not compromise our entire system. 
  • As the criminals advance in their methods, we need to get smarter in our use of IT systems to tackle cybercrime. Our aim is to stop fraud before it has been committed. To do so, we use advanced IT systems that can make real-time risk assessments and sound alarms if necessary. 
  • Moving forward, we will continue to invest in IT solutions to address the growing risks of cybercrime.

Our core practices and commitments concerning the prevention of financial crime