Swedish watchdog calls Swedbank money laundering report ‘very serious’

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February 21 2019

Sweden’s financial watchdog said allegations in a media report linking Swedbank to a Baltic money laundering scandal, involving Danske Bank were “very serious” as shares in the Swedish bank tumbled on Thursday.

Danske is being investigated in five countries over some 200 billion euros ($226 billion) of suspicious payments from Russia, ex-Soviet states and elsewhere that were found to have flowed through its Estonian branch.