Jyske Bank's initiatives to fight money laundering and financing of terrorism go beyond the legal requirements
Based on the objective to reduce the risks that the bank is abused for illegal purposes, we have for several years introduced initiatives to prevent white-collar crime in addition to what is required by legislation.
Hence, Jyske Bank has today introduced a number of specific initiatives that help to prevent white-collar crime, and such initiatives will be continued in the future.
These initiatives include:
- Audit obligation
Since 2019, we have requested that all corporate clients employ an auditor approved by Jyske Bank, i.e. a registered accountant or a state-authorised public accountant. If the client is unable to identify the accountant that it works with, it will usually not be possible to establish or continue a client relationship.
- Less cash in circulation
We have experienced that cash is one of the preferred means in connection with money laundering. To reduce the amount of cash in circulation, we have lowered the limits for cash withdrawals in the bank’s ATMs. Also, it should be added that we have discontinued paying out thousand kroner notes. Clients can still deposit thousand kroner notes at our ATMs.
- A cashless bank without outdoor ATMs
Since the spring of 2019, we have been a cashless bank, and also all outdoor ATMs have been removed. The clients can withdraw and deposit cash in a comfortable and safe environment in our entrance halls.