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NORDEA

Nordea’s network down after online disruptions

Customers of Swedish banking giant Nordea experienced problems on Thursday with internet payments and cash withdrawals, issues the bank has yet to explain or solve.

Nordea's network down after online disruptions

“We’re working as hard as we can to solve it,” Nordea spokesman Ragnar Roos told the Aftonbladet newspaper.

The cash flow appears to have been cut far and wide in Sweden as many return to work while others headed out into the throng of the post-Christmas sales.

“I’m sitting at work now after the Christmas holidays and want to pay my bills for tomorrow, and as usual I can’t get in contact with the service,” complained one Aftonbladet reader.

“This happens much too often and isn’t good enough.”

Nordea explained that the problems stem from their online service.

“We have disruptions in our online system. We’re looking into what may have caused the problems and solving it as fast as possible,” Roos told the paper.

He added that the bank will refund any customers hit by additional fees and charges.

Customers have complained of being unable to pay bills online, withdraw cash or pay with card.

Roos insisted that the problem was only a glitch due to “disruptions and sluggishness” in the online system, promising a more detailed prognosis later on Thursday.

TT/The Local/og

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BANK

Police to investigate Nordea bank over money laundering

Danish police will investigate the Swedish bank Nordea after a year-long probe by regulators into money laundering led to "criticism" of its procedures, the bank said Friday.

Police to investigate Nordea bank over money laundering
Photo: Marcus Ericsson / TT

Detectives will examine how money laundering rules were followed at the bank's Danish subsidiary and could result in “sanctions”, Nordea said in a statement.

“We realize that we initially underestimated the complexity and the time it takes to change our procedures,” said Nordea chief executive Casper von Koskull.

The bank added that 850 Nordea employees are currently involved in the fight against money laundering which the bank plans to increase to 1,150 by the end of the year.

In May 2015 the bank was fined 50 million kronor (€5.4 million euros) – the maximum possible – by Swedish regulators who accused Nordea of “not following money laundering rules for several years” and failing to “evaluate the risks of (doing business with) certain clients”.