Swedbank Denies US Sanctions Violations As Probes Mount
Law360, London (November 20, 2019, 2:16 PM GMT) -- Sweden’s oldest bank was forced Wednesday to deny claims by a Swedish national broadcaster that it had allowed bank transfers through its Estonian branch that could have violated U.S. sanctions against Russia.
Swedbank said it is continuing to investigate money laundering allegations after Swedish public service television broadcast a program claiming that the lender could have allowed a network of Russian businessmen to circumvent international sanctions by sending money through its branch in Estonia.
“The bank is not aware of any Office of Foreign Assets Control violations arising out of the continuing internal investigation,” Swedbank said in a statement, referring to the U.S....
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