There may be grounds for sanctions against Swedbank, US’s Financial Supervisory Authority has said. It follows claims the bank could have handled more than $100bn of potentially suspicious funds as a result of links to Danske Bank’s money laundering scandal. A fine could be up to 10% of the bank’s total annual income. Further investigations have been launched by Sweden authorities. Estonian regulators have also reported “evidence of a misdemeanour”. Swedbank shares fell 4% to reach the bottom of Bloomberg’s European financial stocks rankings and its market value has already fallen 30% in 2019.
There may be grounds for sanctions against Swedbank, Sweden’s Financial Supervisory Authority has said. It follows claims the bank could have handled more than $100bn of potentially suspicious funds as a result of links to Danske Bank’s money laundering scandal. A fine could be up to 10% of the bank’s total annual income. Further investigations have been launched by US authorities. Estonian regulators have also reported “evidence of a misdemeanour”. Swedbank shares fell 4% to reach the bottom of Bloomberg’s European financial stocks rankings and its market value has already fallen 30% in 2019.