Nordea helps clients with tax havens

Public service broadcaster SVT has gained access to the 11.5 million documents leaked from Panamanian law firm Mossack Fonseca, and found that Nordea, in cooperation with the law firm, offers some of its richest clients the means, via mailboxes in Luxembourg, to hide their wealth in tax havens.

Thorben Sander, CEO of Nordea Luxembourg has confirmed the news in part, but says that the bank changed structure in 2009 and now has few such mailboxes. According to SVT, however, Nordea still has 100 active mailboxes.