Nordic banks money laundering

2018

The Nordic countries are perceived as the least corrupt countries in the world and they pride themselves on their good values, transparency and democracy. The Danish and Swedish banks mirrored this collective image of moral superiority. Unlike banks in less reputable nations, the Scandinavian banks were supposedly clean from dirty money.

The Nordic bank scandal of 2018 is thought to be the largest money-laundering scandal in history. Danske Bank alone had enabled an estimated €200 billion of money laundering, Swedbank and Nordea were not much better. Via their Baltic units, the Nordic banks had become hubs for channeling dirty Russian funds into the West. The Scandinavian moral halo has been stained.

References:
The Economist - A massive money-laundering scandal stains the image of Nordic banks