The Swedish Financial Supervisory Authority (FSA) will publish the conclusions o...
FILE PHOTO: Swedbank signs are seen on the bank's Latvian head office in Riga, Latvia, April 9, 2019. REUTERS/Ints Kalnins
Swedbank , Sweden’s oldest retail bank, has lost more than a third of its market value after its Estonian business was embroiled in a money laundering scandal. The most recent allegations against Swedbank, reported by Swedish state TV in March, say it processed gross transactions of up to 20 billion euros a year from high-risk, mostly Russian non-residents, through Estonia from 2010 to 2016.
“FI plans to communicate the results of the investigations no later than the beginning of next year, which is later than FI previously indicated. The main reason is the considerable amount of material in the investigations,” the FSA said in the statement.
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