The regulation is rather new, and at least Scandinavian banks seem to be hyper sensitive to be on the safe side from the money laundering risk point of view. In

The regulation is rather new, and at least Scandinavian banks seem to be hyper sensitive to be on the safe side from the money laundering risk point of view. In part this is due to the allegations and campaigns against Nordea and the actual laundering scandal at Swedbank. The privacy of customers (against having to provide personal information to the bank) is secondary.