Swedbank says Estonia money laundering probe closed
By 
Kyle Brasseur2024-03-04T11:28:00
The Estonian branch of Swedbank is no longer under investigation regarding suspected money laundering and other criminal activities.
The Sweden-based banking group announced Thursday the Estonian Public Prosecutor’s Office completed its probe into Swedbank AS after determining “no crime has been committed.”
“With the decision of the prosecutor in Estonia, we can leave yet another investigation of historical shortcomings behind us,” said Tomas Hedberg, head of special task force and vice president of Swedbank, in a press release.
Related articles
-
News BriefOFAC orders Swedbank Latvia to pay $3.4M over Crimea sanctions violations
Swedbank Latvia agreed to pay more than $3.4 million to resolve apparent U.S. sanctions violations in the Crimea region of Ukraine, the Office of Foreign Assets Control announced.
-
Article
Swedbank Estonia named suspect in money laundering investigation
The Estonian branch of Swedbank has been summoned for interrogation as part of a probe into suspected money laundering and other criminal activities.
-
Article
Swedish regulator fines Swedbank record $390M for AML deficiencies
Swedbank AB has been issued a record 4 billion Swedish Krona (U.S. $390 million) administrative fine for what Sweden’s financial watchdog called “serious deficiencies in its management of the risk of money laundering in its Baltic operations.”
More from Regulatory Enforcement
-
Basic PageNJ manufacturer fined by CPSC for failing to report deadly defect in its air conditioners
A delayed product hazard report cost one company criminal and civil penalties—and a mother her life. This case shows why timely reporting and executive accountability are non-negotiable for compliance teams.
-
News BriefCFPB could run out of money by fall, report says
The Trump administration declawed the Consumer Financial Protection Bureau from the very beginning of his second term. It now appears the agency might be running out of money.
-
ArticleDOJ, SEC end Investigations of GE HealthCare for possible FCPA violations in China
The Securities and Exchange Commission and Department of Justice ended a seven-year review of GE HealthCare Technologies’ China unit for possible violations of the Foreign Corrupt Practices Act.