White Collar & Criminal Law News

Swedbank Laundering Case Grows as $10 Billion Found in Review

March 15, 2019, 11:16 AM

Sweden’s oldest bank may have handled considerably more in suspicious transactions tied to an Estonian money laundering scandal than first reported.

Swedbank AB, which dominates financial markets in the Baltic region, allegedly let about 95 billion kronor ($10.2 billion) in questionable flows move through its accounts between 2007 and 2015, according to Sweden’s main television broadcaster, SVT, which cited a 2018 internal review by the bank.

The amount is more than double that reported by SVT less than a month ago. The timing of the review also raises questions about Chief Executive Officer Birgitte Bonnesen’s vehement denials late in 2018...

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