Major bank hid money-laundering evidence – Swedish regulator
Swedish FSA fines Swedbank record $386m over failures as Estonian prosecutors continue AML probe
The financial regulators of Sweden and Estonia have found that commercial lender Swedbank breached anti-money laundering regulations on a large scale, they announced on March 19.
Sweden’s Finansinspektionen, or Financial Supervisory Authority, fined the bank a record sum of four billion krona, or $386 million, for breaching AML laws. Estonia’s FSA did not fine the Swedish bank’s local subsidiary but said it had issued a “precept” requiring immediate major reforms. It has also passed its
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