Efforts Against Money laundering
Jyske Bank runs a high, inherent risk of being abused for purposes of money laundering or financing of terrorism. The reason is our size as well as our business model, which involves a number of products and clients with high inherent risk.
Therefore our efforts to prevent money laundering and the financing of terrorism have been given the highest priority. We aim in all respects to prevent money laundering and financing of terrorism in order to fulfil the expectations of our clients, government authorities and society in this area. Such prevention is ensured through, among other measures, continuous training and education of employees, clear processes and guidelines, systematic monitoring and reporting
- Read an extract of our policy on prevention of money laundering and financing of terrorism at Jyske Bank [PDF]
- Read the most recent report from the Danish Financial Supervisory Authority (in danish) [PDF]
About 1,400 alerts a month
AML (Anti Money Laundering) is the Jyske Bank department that investigates suspicious transactions.
The 12 team members receive on average 1,400 alerts each month, and about every sixth of these trigger a report to the Danish State Prosecutor for Serious Economic and International Crime.
An alert is triggered, for instance, by transfers of money to high-risk countries and transactions involving large cash amounts, explains Marianne Dyrby, Head of AML.
Almost 70% of the reports to the Danish State Prosecutor for Serious Economic and International Crime contains a cash element. Generally there are very few reports of suspicion of financing of terrorism, while reports of money laundering, particularly based on suspicion of social security fraud or tax evasion account, by far, for the majority of all reports.