Swedbank fined with SEK 46.6 mln for weak AML controls

Friday 7 May 2021 12:15 CET | News

Sweden-based lender Swedbank has been fined SEK 46.6 million for weak anti-money laundering (AML) controls.

The failings cover the period between December 2016 and February 2019, when it is showed that the bank had loopholes in its AML processes and routines.

The bank said that it largely agrees with the conclusions. It had already allocated SEK 30 million for the expected penalty.

Last year as well, Swedbank was fined SEK 4 billion for deficiencies in its AML controls in its Baltic operations.

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Keywords: AML, regulation
Categories: Fraud & Financial Crime
Countries: Sweden
This article is part of category

Fraud & Financial Crime

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