trending Market Intelligence /marketintelligence/en/news-insights/trending/gRN-TPRQf-kDvBD3o-Hg7w2 content esgSubNav
In This List

Swedbank flags suspected money laundering to regulator

Podcast

Street Talk Episode 87

Blog

A New Dawn for European Bank M&A Top 5 Trends

Blog

Insight Weekly: US banks' loan growth; record share buybacks; utility M&A outlook

Blog

Banking Essentials Newsletter 2021: December Edition


Swedbank flags suspected money laundering to regulator

Sweden's financial supervisory authority, Finansinspektionen, said it has received a report from Swedbank AB (publ) on March 1 regarding suspected money laundering, adding that it will include the report in an ongoing probe into a Baltic money laundering scandal.

In February, Swedish public broadcaster SVT alleged that Swedbank was involved in a multibillion-dollar money laundering scandal in the Baltics, saying $5.8 billion had been funneled between suspect accounts at the lender and Danske Bank A/S between 2007 and 2015.

Following the initial allegations, Reuters reported that Swedbank allegedly processed transactions for "suspicious" customers amounting to about 95 billion Swedish kronor between the lender and Danske Bank, citing SVT's program "Uppdrag Granskning."

As of March 15, US$1 was equivalent to 9.24 Swedish kronor.