Jyske Bank follows the common principles of conduct
Jyske Bank endorses Finance Denmark’s six principles of conduct, in the preparation of which we participated actively. The purpose of these six principles is to further develop, improve and make uniform the efforts that are made across Danish financial institutions to prevent money laundering and financing of terrorism.
The principles of conduct originate from the report from Finance Denmark’s Anti-Money Laundering Task Force.
See the report (in Danish)
1. We always put ethics above profit
- We put the prevention of money laundering and financing of terrorism above earnings and work on the basis of the principle of what cannot be explained cannot be defended.
- We only want to have clients for whom the business purpose has been defined as clear and acceptable - and we stand firm no matter who the client is.
- We insist on knowing our clients, their business and the way in which they use the financial institution - even though this will result in a negative response.
2. We follow the law as well as the spirit of the law
- We explain to our clients the background of the rules and the purpose of our effects - follow and explain.
- We do our utmost to act as an efficient doorkeeper, for instance relative to countries with an enhanced risk, unusual transactions, crafty and obscure corporate structures, large cash amounts, etc.
- We do our utmost to act as an efficient doorkeeper relative to moonlighting and social security fraud, and we design our systems accordingly.
3. Feel free to keep an eye on our doings
- We recognise the need to increase transparency, and it is our focus that our practices are open to the light of public scrutiny.
- In our management's review we explain the main content of our anti-money laundering policy, and on our website we publish information about our specific efforts to fight while-collar crime.
- We will prepare standards based on common formats, which can be the subject of independent reviews and preparation of best practice.
4. We focus on our corporate culture
- We ensure that non-financial considerations are also involved in connection with recruitment, promotion, remuneration, etc., including compliance with regulation in connection with programmes with variable remuneration.
- Our day-to-day operations, our culture, our training programmes and our communication support the prevention of money laundering and financing of terrorism.
- We are inspired by other professions that may contribute to a strengthening of the culture and ensure that the prevention of money laundering and financing of terrorism is anchored in all parts of the organisation.
5. We assume managerial responsibility and ensure that all employees take responsibility as regards prevention of money laundering and financing of terrorism
- We ensure the right tone from the top in connection with communication and recognition of corporate social responsibility as leaders are culture bearers.
- We ensure that all parts of the organisation in a clear way and constantly emphasise the importance of prevention of money laundering and financing of terrorism - no matter the tasks of the individual employee.
- We ensure relevant and sufficient training of employees so they are prepared to perform their duties relating to prevention of money laundering and financing of terrorism.
6. We cooperate constructively with all stakeholders, including authorities
- We work in a determined manner with our notifications to the Money Laundering Secretariat (the Danish FIU), so the prevention of money laundering and financing of terrorism can be as efficient as possible.
- We participate constructively in Hvidvaskforum+ (anti-money laundering forum+) and other cooperation fora, where the development of underlying crime is discussed, and the prevention of money laundering and financing of terrorism is improved.
- We ensure access to an efficient, anonymous and protected whistleblower programme.