Swedbank has suspended the bank's two most senior executives in Estonia, CEO Robert Kitt and CFO Vaiko Tammevali, according to a statement. Charlotte Elsnitz, Swedbank’s head of Baltic banking, said it was a direct consequence of the continuing investigation into alleged money laundering. In between 2010 and 2016, Swedish state TV revealed Swedbank processed €20bn ($22.4bn) annually March through its Estonian business, mostly from Russian clients.
Swedbank has suspended the bank's two most senior executives in Estonia, CEO Robert Kitt and CFO Vaiko Tammevali, according to a statement. Charlotte Elsnitz, Swedbank’s head of Baltic banking, said it was a direct consequence of the continuing investigation into alleged money laundering. In March, Swedish state TV revealed Swedbank processed €20bn ($22.4bn) annually between 2010 and 2016 through its Estonian business, mostly from Russian clients.