The offices of Swedbank have been raided by police from Sweden’s Economic Crime Authority financial markets chambers as part of an investigation into money laundering linked to Danske Bank. Danske faces allegations of money laundering in the Swedishs involving 50 clients transferring $4.3bn between Swedish accounts at both Swedbank and Danske. Meanwhile, Baltic broadcaster SVT has said the bank misled US investigators examining transactions involved with the Panama Papers scandal. Swedbank’s shares have lost a quarter of their value since being linked to the Danske Bank investigation.
The offices of Swedbank have been raided by police from Sweden’s Economic Crime Authority financial markets chambers as part of an investigation into money laundering linked to Danske Bank. Danske faces allegations of money laundering in the Baltics involving 50 clients transferring $4.3bn between Baltic accounts at both Swedbank and Danske. Meanwhile, Swedish broadcaster SVT has said the bank misled US investigators examining transactions involved with the Panama Papers scandal. Swedbank’s shares have lost a quarter of their value since being linked to the Danske Bank investigation.