“Sanctions” refer to laws, rules or regulations issued by countries (such as the UK and the US) and international organisations (such as the EU, and the UN), designed to influence unwanted behaviour or policies (such as human rights abuses, terrorism or aggression) by targeting other countries, individuals or groups in order to achieve foreign policy objectives.
Sanctions typically include:
Nordea has a responsibility to its customers, shareholders, regulators and society to ensure that:
Violating sanctions laws, rules and regulations is an offence that may result in monetary fines, regulatory enforcement actions and/or criminal charges.
Nordea is committed to complying with all applicable sanctions laws, rules and regulations. Nordea follows the sanctions laws, rules and regulations of the EU, the UN, the US and the UK on a groupwide basis, subject to applicable local laws and regulations where necessary.
Additionally, Nordea has adopted internal policies to address the totality of financial crime and other risks arising from specific geographic areas, including:
Thus, as a general rule, Nordea neither processes payments nor conducts other business activities related to these geographic areas.
Nordea can only provide information on its own sanctions policies and how they may apply to a transaction you would like to authorise using Nordea’s platforms. Nordea does not offer general legal advice on how sanctions laws, rules and regulations apply to its customers or their activities.
For additional information, please refer to Nordea’s Sanctions Policy Statement.
There are several online resources where you can find more information on sanctions issued by relevant authorities.
United Nations Security Council
Office of Foreign Assets Control (US Sanctions)
Office of Financial Sanctions Implementation (UK Sanctions)