AML Probe Says Swedbank Handled $40B In 'High Risk' Funds
Law360, London (March 23, 2020, 12:03 PM GMT) -- An anti-money laundering investigation at Swedbank published Monday reveals that suspicious transactions totaling €36.7 billion ($40 billion) flowed through the bank over a five-year period, with the lender actively targeting high-risk individuals in the Baltic region.
A report by Clifford Chance LLP showed that transactions representing "a high risk for money laundering" were made at Swedbank between 2014 and 2019. (AP) A report by law firm Clifford Chance LLP, which was commissioned by Swedbank, showed that transactions representing "a high risk for money laundering" were made between 2014 and 2019 as payments to customer accounts worth €17.8 billion and payments from customer accounts...
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