SWEDEN: SEB FINED FOR MONEY LAUNDERING DEFICIENCIES

On 25 June, the FT and others reported that SEB is the latest Scandinavian bank to be fined by regulators in a scandal that has hurt northern Europe’s image.  The bank, controlled by the Wallenberg family of industrialists, has been fined $107 million for not identifying the risk of potential money laundering in Estonia, Latvia and Lithuania. Estonian regulators have also fined it €1 million. The bank is said to have acted too little and too late.

https://www.ft.com/content/3d69838a-9bc2-415d-b293-2cde75d68c10

https://mondovisione.com/media-and-resources/news/finansinspektionen-seb-receives-an-administrative-fine-for-deficiencies-in-its/

 

 

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Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section

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