Swedbank fined SKr4 billion over AML failings in Baltics & Sweden, detailed in Clifford Chance report

Swedbank, Sweden’s oldest lender, is to pay a SKr4 billion (US$385m) fine, after Finansinspektiononen, the local financial services regulator, found fault with anti-money laundering controls in both its subsidiaries in Estonia, Latvia and Lithuania and in the domestic banking operation. [1]