Money Laundering Can't Be Eliminated, Danish FSA Says

The video discusses the persistent challenge of money laundering, emphasizing that while it cannot be completely eliminated, efforts can be made to make it more difficult. The role of Russia and cultural differences in financial practices are explored, highlighting the need for improved defenses. The vulnerabilities of smaller banks are identified, and the importance of addressing other risks like cyber threats is stressed.

What is the main reason money laundering cannot be completely eliminated?

• Limited legal frameworks

• Insufficient technology

• Lack of international cooperation

• Criminals always find new methods

How does the cultural difference between Scandinavia and Russia affect business practices?

• It leads to better cooperation

• It enhances transparency

• It causes a clash in trust and confidence

• It results in more investments

What is a key strategy to prevent money laundering from happening again?

• Enhancing customer service

• Improving defense lines and standards

• Increasing international trade

• Reducing banking regulations

Why are smaller banks more vulnerable to money laundering?

• They have less reputational risk

• They lack advanced technology

• They are less aware of the risks

• They are more exposed due to less experience

Besides money laundering, what other risk is highlighted as a concern for regulators?

• Cyber risk

• Liquidity risk

• Interest rate risk

• Inflation risk