Swedish Regulator Opens Sanction Probe Into SEB Bank
Law360, London (December 18, 2019, 3:34 PM GMT) -- Sweden's financial regulator announced Wednesday it is opening an investigation into lax money laundering controls at Skandinaviska Enskilda Banken AB, as it becomes the latest lender to be dragged into the long-running Baltic dirty money scandal.
Swedish regulator Finantsinspektsioon, known as FI, said it had observed “deficiencies and weaknesses” at SEB and must now decide whether to sanction the bank. The watchdog will publish the outcome of its investigation in March.
Allegations linking SEB to the €200 billion ($227 billion) money-laundering scandal engulfing Denmark's Danske Bank first emerged in November.
The regulator said its investigation into SEB's money laundering controls in the Baltics will be...
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