Sweden Fines SEB $106M For Anti-Money Laundering Failures

Law360, London (June 25, 2020, 5:21 PM BST) -- Sweden's financial watchdog fined Skandinaviska Enskilda Banken AB one billion krona ($106 million) on Thursday for lax money laundering controls in relation to its Baltic operations.

The Swedish Financial Supervisory Authority said that SEB "had deficiencies in identifying and managing the risk of money laundering associated with some of their non-resident customers."

The FSA said that while things have improved since, it failed to meet legal requirements for money laundering checks between the period of 2015 to early 2019.

"Despite the elevated risk of money laundering in the Baltics, the bank has done too little, too late," Erik Thedéen, director general...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.

  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!


Hello! I'm Law360's automated support bot.

How can I help you today?

For example, you can type:
  • I forgot my password
  • I took a free trial but didn't get a verification email
  • How do I sign up for a newsletter?
Ask a question!