Remediation of Legacy Issues at Danske Bank

This document is a technical report detailing the remediation of legacy issues faced by Danske Bank, a large Nordic financial institution. It outlines the establishment of a Remediation Office in 2020 to address complex legacy issues that had arisen since 2019, including errors in debt collection practices and incorrect financial reporting. The report describes specific cases, such as the debt collection issue where approximately 245,000 customers were informed of debt adjustments and compensations. It also discusses the identification of wrongful interest charges on reminder fees affecting around 520,000 customers, and discrepancies in investment agreements impacting about 600 customers. The report emphasizes the bank's commitment to correcting these errors and enhancing internal processes to prevent future occurrences. It concludes with a summary of the actions taken to resolve these issues, including compensation efforts and improvements in IT systems and governance frameworks.