View source for Nordic Banks Join Forces To Combat Money Laundering

<br>STOCKHOLM, July 5 (Reuters) - The Nordic region's six major banks announced the creation of a customer checking centre on Friday, with the initiative expected to help their efforts to crack down on money launderers and recover from a scandal that has damaged the sector's reputation.<br> <br>The news confirms a [https://www.search.com/web?q=Reuters%20report Reuters report] about the venture, which involves scandal-hit Danske Bank and Swedbank and their rivals Handelsbanken, Nordea , SEB and DNB.<br> <br>The banks confirmed the KYC Utility would pool know your customer checks initially for their large and medium-sized Nordic-based [https://www.blogrollcenter.com/?s=companies companies] and begin offering commercial services from next year.<br> <br>Fighting money laundering has become a high profile issue for the region after Danske Bank and Swedbank became embroiled in a money laundering scandal involving their businesses in the Baltics, costing both billions in market value.<br><br>(Reporting by [https://www.garnelenshop-bayern.de/eSHa Esha] Vaish in Stockholm Editing by Keith Weir)<br>