Nordea bank shuts 68 accounts amid tighter offshore rules

July 20, 2016 11:40 AM

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HELSINKI – The Nordic region's largest bank says it will close 68 accounts at its Luxembourg branch as it adopts tougher rules on clients using offshore companies.

Nordea Bank found that although its employees provided administrative services to customers it found no evidence they had initiated the "establishment of offshore structures" or had contributed to customers' tax evasion.

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