Swedbank SEK 4 billion AML sanction
Company: Swedbank AB
Summary
Sweden's Finansinspektionen found serious deficiencies in Swedbank's management of money-laundering risks in its Baltic operations and shortcomings in governance and control. FI also found that Swedbank had withheld documentation and information from the regulator. In March 2020 FI issued a warning and imposed an administrative fine of SEK 4 billion. Source: https://www.fi.se/en/published/sanctions/financial-firms/2020/swedbank-receives-a-warning-and-an-administrative-fine-of-sek-four-billion/