Nordea Bank Shuts Accounts Amid Tighter Offshore Rules

HELSINKI (AP) — The Nordic region’s largest bank said Wednesday it will close 68 accounts at its Luxembourg branch as it adopts tougher rules on clients using offshore companies.
Nordea Bank has carried out an internal investigation after Swedish broadcaster SVT, one of hundreds of media with access to leaked documents detailing offshore accounts, reported that Nordea’s Luxembourg unit worked with Panamanian firm Mossack Fonseca to help customers set up shell companies.

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