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Swedbank Says It Won’t Be Tainted by Baltic Laundromat Case (1)

Oct. 23, 2018, 3:33 PM

The biggest bank operating in the Baltic region is confident it won’t be drawn into the money laundering scandals that have tainted some of its peers.

Swedbank AB of Sweden, which dominates the financial industries of Estonia, Latvia and Lithuania, says its focus on domestic customers over the years has protected it from the kind of illicit flows that allegedly gushed through Danske Bank A/S’s business in Tallinn and, to a lesser extent, into Nordea Bank Abp, according to filings with Nordic prosecutors.

Birgitte Bonnesen, Swedbank’s chief executive officer, says the sources of potentially suspicious flows linked to other banks ...