The Estonian branch of Swedbank has been summoned for interrogation as part of a probe into suspected money laundering and other criminal activities.
Swedbank AS was notified of it being a suspect by a special investigator of white-collar crime at Estonia’s Central Criminal Police on Monday.
“Swedbank AS cooperates with the authorities and share(s) all information on the events that are being investigated,” the bank said in a press release. “The bank has no further information as to how this investigation will proceed or what the implications of it may be.”
In March 2020, Swedbank agreed to pay a 4 billion Swedish krona (then-U.S. $390 million) administrative fine to settle charges stemming from investigations in Sweden and Estonia into money laundering failures. The Estonian investigation concluded Swedbank AB had “severe deficiencies” in its anti-money laundering risk control systems and that the bank failed to live up to AML requirements.
Swedbank’s former chief executive, Birgitte Bonnesen, was charged with fraud related to the scandal in January.
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