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.





If you would like to say thanks by making a small contribution, in case I need to upgrade or replace my computers and other paraphernalia, I have a page at https://www.buymeacoffee.com/KoIvM842y

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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