Investor Presentation - First Nine Months 2022
Investor Presentation - First nine months 2022
Our Path to Financial Crime Transformation
2020-2022
A comprehensive
Group-wide Financial
Crime Plan is launched
covering all initiatives
needed to meet
regulatory requirements.
The plan is shared with
the DFSA
We continue to
significantly change
leadership and
governance
structures
We continue our
ongoing dialogue
with regulators
for transparency and
oversight throughout
our remediation
process
Policies and
instructions are
further updated to
increase clarity and
facilitate compliance
with regulations
We refresh due
diligence data of
2.6m customers
against a new and
improved standard
covering 99.9% of
targeted customers
We automate our
transaction monitoring
to ensure all-in scope
customer activity is
subject to appropriate
automated monitoring
for potential financial
crime
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Danske Bank
2023
We hire International
experts into key
positions and
functions. Specialised
units are established to
manage financial crime
risks and strengthen
financial crime
controls
We increase financial
crime awareness and
knowledge across the
Group through annual
targeted and
specialised financial
crime trainings
An extensive culture
change is further
implemented to
integrate compliance
into our DNA and the
way we work
We lift and digitalise
our KYC and due
diligence processes
and increase data
coverage and quality,
which gives us deeper
understanding of our
customers and ability
to identify financial
crime faster
By increased use of
technology and data
we detect, investigate
and analyse potential
financial crime risks
faster and more
effectively, increasing
our response rate to
potential threats
We fully screen
against national, EU
and global sanctions
lists to ensure that we
and our customers do
not conduct business
that breaches
sanctions
We progress
implementation of
our Group-wide
Financial Crime
Plan and extend it to
also cover Fraud,
Anti-Briberyand
Corruption and Tax
Evasion
All initiatives on
the Group
Financial Crime
Plan to be
completed by end
of 2023*
*Completion means - Fundamental controls in place/Ability to foresee and handle financial crime issues/Meet applicable regulatory requirements
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