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SEB, Swedbank, Danske Bank shares drop amid US investigation report on money laundering

Friday 18 December 2020 11:05 CET | News

SEB, Swedbank, and Danske Bank shares have dropped amid US investigation report, Reuters cited Swedish newspaper Dagens Industri reports.

The Department of Justice (DOJ) and FBI have been investigating the banks over possible breaches of US anti-money laundering regulations and fraud. Sweden had received requests for help from US authorities investigating a Baltic money-laundering scandal that has already led to local fines for Swedbank, Danske, and SEB, the newspaper reported.

The banks were being investigated by the DOJ, the FBI, and federal police, and a federal prosecutor in New York over possible fraud and breaches of anti-money laundering regulations, it added.

‘We have previously communicated, for instance in connection with our latest quarterly report, that US authorities continue to investigate Swedbank’s historic work against money-laundering and historic publication of information’, Swedbank spokeswoman Unni Jerndal said in response to the report.

SEB said it had received inquiries from US authorities but was not aware of any allegations against it.

Danske Bank spokesman Stefan Singh Kailay said: ‘It is known that we are being investigated by authorities in Denmark, the US, Estonia, and France, and we continue to be in close dialogue with them all’.

The US Department of Justice, which can also speak for the FBI, declined to comment.

Shares in all three banks were down, with Swedbank off 7.7%, SEB 5.6% lower, and Danske Bank down 3.3%.


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Keywords: SEB, Swedbank, Danske Bank, financial crime, FBI, money laundering, fraud, banking, AML, sanctions
Categories: Banking & Fintech | Payments General
Countries: World
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Banking & Fintech