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Transport Workers' Union to pull out as Nordea client

Another group says they want to distance themselves from a bank implicated in the Panama Papers leak. The Finnish Transport Workers' Union has added itself to the list of organisations which have announced they are leaving Nordea Bank.

Nordean konttorin sisäänkäynti.
Nordea Bank. File photo. Image: YLE

The Finnish Transport Workers' Union (AKT) said it plans to change banks after revelations earlier this month that Nordea had been involved in facilitating offshore tax shelters for hundreds of its clients.

The AKT board voted unanimously to move the union's money to another financial institution, according to a union press release issued on Friday.

"We do not accept banks operating in tax havens," AKT's chair Marko Piirainen stated in the release.

"When big companies, banks and rich people resort to aggressive tax planning, the tax burden falls to low- and middle-class taxpayers. If taxes were paid equally across the board, we wouldn't have to cut services," Piiranen stated.

Connections between the Nordic bank and the Panama Papers leak have also prompted several other organisations to announce they would stop doing business with Nordea, including the Social Democratic, Left Alliance and Finns parties.

The AKT union represents more than 50,000 transport workers. 

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