COPENHAGEN Danish banks should significantly increase their focus on complying with rules to avoid money laundering and tax evasion, the Danish Financial Services Authority (FSA) said on Tuesday in a report in the wake of the so-called the Panama Papers.
This was backed by the country's business minister.
"It's unsatisfactory that a range of banks in clear violation of the law apparently have risked participating in money laundering," business minister Brian Mikkelsen said in a statement.
"That's why I see a need for initiatives with a focus on increased management responsibility".
(Reporting by Teis Jensen and Nikolaj Skydsgaard, editing by Stine Jacobsen)