Nordea has received a follow-up decision from the Danish Financial Supervisory Authority (FSA) regarding previous orders related to errors in debt collection. The Danish FSA acknowledged that Nordea has taken relevant measures concerning all eight orders issued on September 26, 2023.
The Danish FSA stated, "Nordea has followed up with relevant measures in relation to the eight orders received by the bank." However, for three of these orders, the authority noted that assessing their adequacy requires specialized technical knowledge beyond its usual scope. As such, Nordea is required to appoint an external reviewer to independently verify the bank's actions.
The Danish FSA explained that it "cannot test the adequacy of all the bank’s initiatives because this requires in-depth knowledge and professional expertise in relation to rules and provisions, data handling and control of IT systems for three of the eight orders." This task falls outside its ordinary activities and responsibilities.
Nordea will bear the costs associated with hiring an external reviewer as per the Danish FSA's directive.