The Financial Supervisory Authority (FSA) has recently been accused of misjudging the risks of money laundering in the big Swedish banks’ Baltic operations. Now the European Commission’s director general for justice and consumers, Tiina Astola has signed a letter from the Commission to Sweden’s EU ambassador Lars Danielsson.
“Allegations about failings in Swedbank’s processes and methods for preventing money laundering have been backed up by public excerpts from an internal report from the bank,” it says. The Commission is aware that the FSA has launched an investigation but it wants more information about the FSA’s actions, “so that we can check whether it carried out an effective regulation of Swedbank in accordance with the requirements in the EU directive 2015/849”.
The Ministry of Finance has replied that the Swedish government takes “money laundering very seriously”.
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