A voice for newcomers in Sweden

Watchdog launches probe into Swedbank after money laundering allegations

Swedbank's CEO Birgitte Bonnesen, pictured, has requested an external investigation into allegations of money laundering. Photo: Tomas Oneborg / SvD / TT

Published: 21.Feb.2019 16:35 hrs

Sweden's finance watchdog has announced an investigation into Swedbank over allegations that the lender may have been used for money laundering of billions of kronor, on the same day that the bank launched its own external investigation into the claims.

The probes follow revelations in an SVT documentary that Swedbank may have been used for extensive money laundering over a 12-year period, including transactions linked to the scandal-hit Danske Bank.

In response, Sweden's Financial Supervisory Authority (FI) has launched an investigation into the lender together with the equivalent authority in Estonia, since many of the suspicious transactions took place in the Baltic states.

Read full article on The Local

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