Nordea EN English Dansk Norsk Suomi Svenska Monitoring customers and transactions Breadcrumb Home About us Nordea in society Preventing financial crime Monitoring customers and transactions Nordea has over 9 million customers and handles more than 2.8 billion money transfers every year. In order to monitor such high volumes and detect potential illegal activities, we have invested heavily in financial crime prevention tools. We have strengthened our IT systems, increased the number of employees dedicated to combating financial crime and reinforced training for all employees. In our effort to detect and prevent financial crime, we conduct: Screening Customers and transactions are screened against relevant lists, for instance EU sanctions list. Screening takes place as part of the customer onboarding process and subsequently on an ongoing basis. Monitoring Customer relationships and transactions are continuously monitored to detect any unusual activity, transactions and behaviour. Unusual activities, transactions and behaviour will trigger internal alerts and investigations. Suspicious activity, transactions and behaviour will be reported to relevant authorities. In such cases, we will also consider whether the customer relationship must be ended. ~2.8bn money transfers every year 1,600 colleagues dedicated solely to preventing financial crime All employees are trained in financial crime awareness €1.1bn spent on financial crime prevention from 2015 to 2020 Oops! Please enable marketing cookies to view content like this from Nordea Suspicious activity reporting A Suspicious Activity Report (SAR) is a report made by a financial institution about a suspicious transaction or activity to the local Financial Intelligence Unit (FIU). In general, the criteria for suspicious activity reporting are: customer activity that does not make sense to Nordea or is unusual for that particular customer or appears to be done only to conceal another transaction that could indicate money laundering or terrorist financing. The report is filed with the specific country’s FIU, which is a specialised authority that collects and analyses transactions. All staff at Nordea have the responsibility to identify transactions and activities that may be suspicious or unusual, and these are reported to a designated unit that is responsible for investigating and reporting the suspicious transaction or activity. Nordea is not allowed to inform the customers or parties involved in the transaction that a SAR has been filed, nor can we share the information with other financial institutions. Share this page About us Who we are Nordea in society Corporate governance Investors Nordea in figures Reports & presentations Share News & insights Press room Economic Outlook Blogs Careers Vacant positions Join us Locations Sustainability Sustainability at Nordea Sustainable Choice Reports Our services Corporates & institutions Small & medium businesses Personal customers Contact us General terms Privacy policy Cookies Accessibility Site feedback Nordea Bank © 2021 Nordea’s use of cookies Dansk Norsk Suomi Svenska Nordea uses own cookies as well as cookies from third parties. Cookies are used to enhance your online experience and to remember your preferences, for example language. Cookies are also used to analyse web traffic and to show you targeted ads in our own and third parties’ online media. We ask for your consent to use such cookies, except for necessary cookies which are needed to run our website. If you click on “Settings” below, you are able to decide which cookies you want to consent to. By clicking “Accept all cookies” you consent to all cookies from Nordea and our third-party collaborators. You can change or withdraw your consent at any time. You can read more about the use of cookies and how you can withdraw your consent in our cookie policy. Accept all cookies Settings