Nordea Suspends Two More Employees Amidst Ongoing Fraud Investigation in Norway

Arrests Made in Connection to Securities Fraud Allegations

OSLO – Nordea, a major financial services group in Norway, has announced the suspension of two more employees in relation to an ongoing securities fraud investigation. The latest arrests follow Nordea’s reporting of the case to the Norwegian authorities earlier this year.

Nordea’s Response and Current Suspended Employees

According to a Nordea spokesperson, the individuals were arrested on suspicion of securities fraud following the bank’s cooperation with the authorities. Nordea has now suspended a total of four Norwegian employees in the course of this investigation.

Fraud Allegations and Nordea’s Investigation

The alleged fraud involves loans being issued on false pretenses, an issue Nordea identified several months ago. Since the discovery, the bank has closely monitored the employees under scrutiny and collaborated with the Norwegian authorities in the investigation.

Important note: Nordea emphasizes that the company itself is not under investigation in this matter. The bank adheres to a strict zero-tolerance policy towards fraud, corruption, or any other financial crimes. Nordea pledges to investigate any suspicious behavior and report it to the authorities if necessary.

Nordea’s Proactive Approach and Support from the Norwegian Financial Supervisory Authority (Finanstilsynet)

Nordea’s efforts against financial misconduct parallel the Norwegian Financial Supervisory Authority’s (Finanstilsynet) mission to combat securities fraud and safeguard market integrity. Finanstilsynet has publicly expressed its backing of Nordea’s approach and emphasized the importance of transparency and cooperation between financial institutions and the authorities.

Ongoing Investigation and Further Updates

The arrested individuals are currently in police custody, and the investigation remains active. Nordea and the Norwegian Police will release further details on the situation as they become available.