October 23 2019
American law enforcement agencies and the European Central Bank (ECB) are investigating money laundering through Swedbank , Bloomberg reports . This investigation could cost the bank 103 million euros in losses this year.
The bank said that at the moment the Office for Combating Economic Crimes of the State Police of Latvia and the European Central Bank are conducting an investigation, which should be completed before the end of the year.
At the same time, the Swedish anti-crime agency is investigating the involvement of bank employees in violating anti-money laundering laws. Swedbank does not know when this investigation will be completed.