Swedish FSA has concluded its sanctions case against Swedbank and found serious deficiencies in the banks AML processes and resources
Also says that the bank withheld relevant information from the FSA
A substantial fine, but well within Swedbank’s management buffer
Positive to get a conclusion, but higher risk premium likely to persist
19 Mar 2020
Receives SEK 4bn AML fine by Swedish FSA
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Receives SEK 4bn AML fine by Swedish FSA
Swedbank AB Class A (FRYA:FRA) | 0 0 0.3% | Mkt Cap: 233,306m
- Published:
19 Mar 2020 -
Author:
Roy Tilley -
Pages:
6
Swedish FSA has concluded its sanctions case against Swedbank and found serious deficiencies in the banks AML processes and resources
Also says that the bank withheld relevant information from the FSA
A substantial fine, but well within Swedbank’s management buffer
Positive to get a conclusion, but higher risk premium likely to persist