- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By 
Neil Hodge2020-10-13T20:38:00
It is not clear what action Danske Bank will take on the back of its investigation into Europe’s biggest-ever money laundering scandal, but it is a safe bet to think further improving compliance will be on the list.
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Outgoing Danske Bank CCO Satnam Lehal shares with Compliance Week lessons learned from addressing deficiencies in the bank’s compliance program while managing the expectations of regulators, the board, employees, customers, analysts, investors, and the public.
Danske Bank will appoint Chief Audit Executive Dorthe Tolborg to serve as its chief compliance officer after current CCO Satnam Lehal announced he would depart the bank in early 2024.
Danske Bank reached final resolutions with U.S. and Danish authorities to settle allegations regarding widespread anti-money laundering deficiencies at its former Estonia branch.
Jamaica and Türkiye made “significant progress” addressing deficiencies in their anti-money laundering/countering the financing of terrorism (AML/CFT) programs, warranting their removal from the Financial Action Task Force’s grey list.
The Financial Crimes Enforcement Network published its latest collection of Bank Secrecy Act data, including number and type of suspicious activity reports.
Despite repeated interventions, fines, and negative publicity, money laundering is rife in U.K. financial services firms, according to Deputy Foreign Secretary Andrew Mitchell.
