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Swedbank faces scrutiny over money laundering allegations

Jaclyn Jaeger | March 11, 2019

Legal pressure against Stockholm-based Swedbank, one of several banks at the center of a massive money laundering scandal, continues to escalate.

At the center of the money laundering saga are suspicious payments totaling 200 billion euros originating from Russia and elsewhere linked to Danske Bank’s Estonian branch between 2007 and 2014. Bill Browder, the co-founder and CEO of investment fund Hermitage Capital Management who has campaigned for Danske Bank to be held more accountable for €200 billion (U.S. $226 billion) of suspicious payments, reportedly also filed a criminal complaint this month with Swedish prosecutors over Swedbank’s link to the money laundering scandal.

Swedbank’s troubles started on 20 February, when a Swedish television program alleged...

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