Sweden's FSA to Consider Sanctions Against Swedbank Amid Money Laundering Probe
2019年10月29日 - 5:18PM
Dow Jones News
By Dominic Chopping
STOCKHOLM--Sweden's financial supervisory authority said Tuesday
that it will consider issuing sanctions against Swedbank AB
(SWED-A.SK) as it continues its investigation into money laundering
at the Swedish lender.
The Swedish FSA -- known as Finansinspektionen -- said in a
statement that it is opening a sanction case in its investigation
into Swedbank's governance and control of measures to combat money
laundering in the bank's subsidiaries in the Baltic countries.
Swedbank, along with other Nordic lenders, are under
investigation after a report by Swedish TV network SVT alleged
large-scale money laundering through branches in Estonia.
"The decision on whether to open a sanction case is part of FI's
investigation process," the FSA said.
"Inherent in this decision is that FI considers there to be
sufficient grounds for assessing whether the deficiencies and
weaknesses observed during the investigation should lead to a
sanction or if the investigation should be closed in another
manner."
Finansinspektionen's investigation into Swedbank's governance
and control of measures to combat money laundering in the Baltic
region is being conducted in cooperation with the supervisory
authorities in Estonia, Latvia and Lithuania.
The Estonian supervisory authority has decided to open a
sanction case with regard to Swedbank's subsidiary in Estonia.
The result of Finansinspektionen's investigation into Swedbank
is expected at the beginning of next year. It's investigation into
the same matter at Skandinaviska Enskilda Banken AB (SEB-A.SK) is
still continuing, it added.
Write to Dominic Chopping at dominic.chopping@wsj.com
(END) Dow Jones Newswires
October 29, 2019 04:03 ET (08:03 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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