Home AML AML News Swedbank ditches EY as money laundering auditor

Swedbank ditches EY as money laundering auditor

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Swedbank faced embarrassment as the leading Swedish bank in the Baltics was forced to change the external auditor investigating money-laundering claims at the lender after less than a week.

The Swedish bank said on Tuesday that it would use Forensic Risk Alliance, an international investigative consultancy that has worked on cases such as bribery probes at Rolls-Royce and Telia, instead of EY.

EY is under investigation in Denmark over its role in auditing Danske Bank during the Danish bank’s €200bn money-laundering scandal in Estonia — which has now ensnared Swedbank.