Nordea accused of supplying euro notes to exchanges

Nordea bank is being charged for selling over a billion kroner in euro notes to currency exchange offices, despite warnings from authorities about the risk of the bills being used for criminal activities. The charges, outlined by the Special Criminal Investigation Unit (NSK), claim that from 2012 to 2015, Nordea intentionally or negligently failed to investigate the background and purpose of the transactions. Uni Travel & Exchange, Nordea’s largest client in this case, was fined 111 million kroner for money laundering in 2017. Another exchange office, Primex, also received large amounts of the noted euro bills and was involved in a criminal network producing fake invoices, as established by a city court. Primex faced fines amounting to 195 million kroner. Nordea contests NSK’s legal assessment, with the case set to go to trial in Copenhagen City Court for approximately 60 sessions.