Anti-money-laundering compliance controls have impacted Nordic banks’ bottom lines. The region’s largest financial institutions — Swedbank AB, Nordea Bank ABP and Danske Bank A/S— have had to spend a good chunk of money on new compliance systems and the hiring of staff members after all...
On Wall Street, sometimes growth is not enough. Steady growth must be in the cards, and when it comes to tech companies, accelerating growth is a coveted hallmark for revenue and earnings. So it is, then, that Alphabet, Google’s parent company, stumbled this past week....
A Russian bank with ties to a former U.S. congressman has lost its license amid money-laundering violations. Bloomberg reported Friday (April 5) that Commercial Bank of Ivanovo, which is 80 percent owned by former North Carolina Republican Rep. Charles Taylor, had its license revoked because,...
Swedbank’s CEO has admitted to making some mistakes when handling money laundering allegations against the bank. Last month it was revealed that Estonia’s investigation of money laundering involving Danske Bank was widening to include Swedbank after a Swedish TV show said it found evidence that 40...
October 12, 2018
Amid the headlines detailing the billions of dollars in money laundering done through conduits like Danske Bank and Deutsche Bank, among others, a report shows that the problem is a global one — and that it is getting worse. Certainly the topic is a timely one, and here we delve into why the current anti-money […]
December 18, 2019
A Swedish regulator has opened an investigation into SEB, one of Sweden’s largest banks, over an increasingly volatile money-laundering scandal that has adversely affected the reputation of the region’s banking industry, according to a report by the Financial Times. The probe is being done by the Swedish financial supervisory authority, and on Wednesday (Dec. 18), […]
July 21, 2019
Anti-money-laundering compliance controls have impacted Nordic banks’ bottom lines. The region’s largest financial institutions — Swedbank AB, Nordea Bank ABP and Danske Bank A/S— have had to spend a good...
March 06, 2019
Swedbank’s CEO has admitted to making some mistakes when handling money laundering allegations against the bank. Last month it was revealed that Estonia’s investigation of money laundering involving Danske Bank was...
February 20, 2019
Estonia’s investigation of money laundering involving Danske Bank is widening to include Swedbank, according to a report by Reuters. Estonia is investigating allegations that link Swedbank to some suspicious transactions...