The management of Swedbank decided, in cooperation with the relevant authorities, to conduct a more thorough investigation of the possible malpractice of money laundering. The bank made this decision after consulting with the Forensic Risk Alliance (FRA), which was previously instructed by the bank to conduct its own investigation.
It was previously announced that the FRA would examine Swedbank documents in search of evidence that the bank would be involved in a money laundering scandal at Danske Bank. The journalists of the Swedish television program “Uppdrag granskning” have uncovered connection with Swedbank and discovered suspicious transactions with dozens of legal entities.
The 24-page FRA report did not contain data on potentially suspicious transactions. However, some parts of the texts were blacked and therefore unreadable, for example, the name of the research. Swedbank holds an annual shareholders meeting at the end of March, which may give investors the opportunity to ask questions.