Investor Presentation - FY 2022
Investor Presentation - FY 2022
Completion of our Financial Crime Transformation by the end of 2023
Danske Bank
In the recent years, we have made significant investments
to ensure that a robust, well-resourced and expert
compliance function is in place across our operations to
effectively combat financial crime.
We have made significant changes to ensure that we
have the right people, structures and controls in place to
continue to achieve and maintain a culture of integrity in
everything we do, deliver on our financial crime
transformation and manage compliance issues that arise
in the future.
In designing the Financial Crime Plan, Danske Bank has,
to the extent possible, sought to execute the program in a
risk-prioritised way. Wherever possible, we have been
adopting an approach of trying to mitigate the most
material residual risks first.
Throughout 2023, we will continue our efforts to
complete the remaining initiatives in our Financial Crime
Plan and conclude our financial crime transformation by
the end of the year.
Examples of key initiatives to be completed in 2023
Financial Crime Training
Deliver targeted training to regulated roles specific to
financial crime to ensure aligned knowledge and use of
best practice, and finalise a report and closure
observations of our financial crime training framework
Know-Your-Customer
•
Finalise closure documentation for the completion of
KYC refresh for the Bank's customers and transition
into a "business-as-usual" operational setup for
regular, periodic reviews
Transaction Monitoring
.
Evaluate the staffing and sustainability of Group
Transaction Monitoring against its new role and
procedures
Suspicious Activity Reporting
Complete remediation of gaps in subsidiaries to
ensure consistency and adherence to Group
requirements
Data Governance
Issue a Financial Crime Data Management Instruction
to provide specific guidance on the management and
control of financial crime data
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