The material on this site is for financial institutions, professional investors and their professional advisers. It is for information only. Please read our Terms & Conditions, Privacy Policy and Cookies before using this site. Please see our Subscription Terms and Conditions.

All material subject to strictly enforced copyright laws. © 2022 Euromoney, a part of the Euromoney Institutional Investor PLC.

Nordea ‘underestimated systems needed’ for AML, says CEO

Casper von Koskull calls for a supranational anti-money laundering (AML) authority in Europe, while pushing the ECB to relax its dividend leash to boost strong banks.

Casper von Koskull, chief executive of Nordea, has admitted the risks of criminals using its network caught Scandinavia’s biggest bank off guard, as an AML scandal sweeps across the Nordic region.

The scandal – with reports highlighting billions of dollars of questionable money flows from the former Soviet Union – caught its second scalp last week, with the resignation of Swedbank chief executive Birgitte Bonnesen, six months after the resignation of Danske Bank chief executive Thomas Borgen.

Casper-von-Koskull Nordea-160x186

Casper von
Koskull, Nordea

“We were naive and complacent; we underestimated the complexity involved and the systems needed to deal with it,” says Von Koskull, while also calling for a new AML authority at a European level.

His comments came as part of Euromoney’s 50th anniversary coverage.

During the past three years, Von Koskull says Nordea, like other Nordic banks, has improved its AML systems, investing €730 million since 2015, while deploying 5% of its workforce on the problem and retraining others.

Von Koskull’s mandate, on becoming chief executive in 2015, was partly to invest in compliance systems.

You have reached premium content. Please log in to continue reading.

Read beyond the headlines with Euromoney

For over 50 years, our readers have looked to Euromoney to stay informed about the issues that matter in the international banking and financial markets. Find out more about our different levels of access below.


Unlimited access to and

Expert comment, long reads and in-depth analysis interviews with senior finance professionals

Access the results of our market-leading annual surveys across core financial services

Access the results of our annual awards, including the world-renowned Awards for Excellence

Your print copy of Euromoney magazine delivered monthly

£73.75 per month

Billed Annually


Unlimited access to and, including our top stories, long reads, expert analysis, and the results of our annual surveys and awards

Sign up to any of our newsletters, curated by our editors


Already a user?

We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.
I agree