According to section 2 of the Consolidated Act on preventive measures against money laundering and financing of terrorism, money laundering is defined as conversion, transfer, acquisition, possession or use of capital assets or non-disclosure or disclosure of their nature, origin, localization, movement and ownership and attempts here at or contribution hereto, with the knowledge or assumption that the capital assets derive from a violation of the criminal code.

Nørresundby Bank requires identification from all customers with whom a business relationship is established, in accordance with Consolidated Act on preventive measures against money laundering and financing of terrorism.

To the extent that transactions involve non-regular customers, Nørresundby Bank requires identification as regards any transaction involving amounts equal to EUR 1,000/DKK 7,400 or above.

Information about the payer accompanying transfers of funds is provided in accordance to the regulation of the Council.

Identification is required whenever there is a suspicion that the transaction is associated with money laundering or the financing of terrorism.

Reporting of suspicion of money laundering
If there is suspicion that a transaction is associated with money laundering, Nørresundby Bank will make detailed enquiries. If the suspicion about illegalities continues, as a rule the transaction will be suspended and reporting will be effected to the Public Prosecutor for Serious Economic Crime.

Suspicion of financing of terrorism
If there is suspicion that a transaction is associated with the financing of terrorism, Nørresundby Bank will make detailed enquiries. If the suspicion cannot be refuted, the transaction will be suspended and reporting will be effected to the Public Prosecutor for Serious Economic Crime.

Nørresundby Bank's internal procedures ensure that all employees comply with the above statutory provisions. Moreover Nørresundby Bank's training programme ensures that all employees review the money laundering and terrorism financing rules regularly.

Via the Danish Bankers' Association, the Public Prosecutor for Serious Economic Crime publishes and distributed updated alert lists to all Danish banks. These alert lists contain information about names of individuals who are suspected in connection with acts of terrorism.
Nørresundby Bank compares these lists with the Bank's customer data bases and effects reporting in the event that any issues give rise thereto.

Money transfers are scanned against a number of international anti-terror lists - among those the EU Terror List and OFAC Blocked Countries.

Branches and subsidiaries
Nørresundby Bank has 17 branches in Denmark and has no representations abroad.

Your contact
For further information, please contact

Finance Department
Tel +45 98 70 38 00
finans@nrsbank.dk