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SEB Faces Sanctions as Bank Probed in Money-Laundering Case (2)

Dec. 18, 2019, 9:30 AM

Yet another big Swedish bank may now be facing fines after the financial watchdog said it was exploring the option of imposing sanctions on SEB AB following allegations it was used for money laundering.

Shares in the Stockholm-based bank fell as much as 6.5% when trading started on Wednesday, before recouping some of those losses.

SEB is the latest Nordic lender to be implicated in a vast money-laundering scandal that has already engulfed Danske Bank A/S and Swedbank AB. Both those lenders are being investigated across Europe and in the U.S., with investors bracing for potentially hefty fines. In all ...