Swedbank Says It's Prepared For Money Laundering Fines
Law360, London (January 28, 2020, 3:45 PM GMT) -- Swedbank said Tuesday it was confident that it could handle any sanctions issued against it by financial regulators over a money laundering scandal in the Baltics.
The Swedish bank is waiting for a number of decisions by financial regulatory authorities after coming under scrutiny last year. The lender found itself in the spotlight when reports emerged that billions of dollars of illicit funds may have passed through its Estonian branch in a link to suspected money laundering at Danske Bank A/S.
Chief Executive Jens Henriksson said on Tuesday that he expected Swedish and Estonian authorities to announce the first steps of any...
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