Swedbank replies to Estonian and Swedish Financial Supervisory Authorities
Today Swedbank has replied to the Estonian and Swedish Financial Supervisory Authorities’ requests for comments on notification letters. The bank shares many of the authorities’ observations and preliminary conclusions.
Swedbank’s President and CEO Jens Henriksson commented:
“I take the findings of the Financial Supervisory Authority seriously. There has been insufficient internal governance and control to address deficiencies related to suspected money laundering. These shortcomings have meant that there has been a risk that Swedbank and its subsidiaries have been used to launder money, which is unacceptable from the requirements and expectations, among others, customers, shareholders and supervisors, have on us.”
December 18th, the Swedish Financial Supervisory Authority said that its decision in the ongoing sanctions case against Swedbank will be communicated in March 2020.
Unni Jerndal, Head of Press Office, Swedbank, tfn: +46 73 092 11 80