Swedbank Says its Anti-Money Laundering Procedures not Being Investigated

No Comment 13 Views

Sweden’s Swedbank (SWEDa.ST) said on Thursday that there were no ongoing investigations into its anti-money laundering procedures, a day after its shares slumped on worries about cross-border transactions by banks in Estonia.

On Thursday, Danske Bank (DANSKE.CO) said it was being investigated by the U.S. Department of Justice about non-resident accounts at its Estonian branch, the latest blow in a long-running scandal over lax money laundering controls at its local subsidiary.

“There are currently no ongoing investigations into our bank from any of our regulators concerning anti-money laundering practices,” Swedbank said in a statement.

“We have always had zero tolerance against money laundering in all markets where we operate.”

Read the original article here: reuters.com


Get headlines, breaking news, and jobs announcements delivered to your inbox. Sign up for our daily newsletter.

Share This Page
Industry Webinars
FEATURED Solutions
Learn About RDC