Nordea has been penalised DKr155m ($23m) by a Copenhagen court after being convicted of breaching Denmark’s anti-money laundering controls between 2012 and 2015.
The penalty is drastically lower than the DKr6.6bn demanded by the prosecution.
Judges dismissed five counts, returning a partial guilty verdict on two of the seven charges.
The legal action followed claims raised in 2024 by Denmark’s Special Crime Unit (NSK).
The enforcement body asserted that the institution failed to properly vet Russian clients and ignored alerts concerning currency exchange outlets in Copenhagen.
The NSK noted that it will review the decision before establishing whether to contest it, stating: “As the court did not agree with us regarding the scope of the case, the fine is considerably lower than the amount we claimed.”
Nordea, which denies all wrongdoing, confirmed it is examining the complete ruling—including the findings and the legal rationale – before deciding whether to appeal.
Both sides have an initial two-week window from the verdict date to submit an appeal.
Should prosecutors challenge any part of the decision, Nordea will receive an additional two weeks to lodge a counterappeal.
The ruling carries no immediate financial impact for the bank.
The litigation centred strictly on whether Nordea operated adequate anti-money laundering systems and controls during the 2012–15 timeframe.
Nordea was neither accused of conducting money laundering nor of facilitating it, and no current or former staff have been suspected or charged in the proceedings, the bank said.
In an exchange filing, the bank noted: “Nordea has invested and continues to invest heavily in fighting money laundering and other types of financial crime and collaborates closely with the authorities to stop criminals and their activities.”
