SEB said it saw no need for further action as broadcaster SVT reported on Wednesday that an SEB client list contained 130 “red flag” names associated with non-resident companies suspected of money laundering in the Baltics, reports Dagens Industri.
SEB Chief Executive Johan Torgeby stood by earlier claims that the bank has not been systematically exploited for money laundering and dismissed SVT’s findings as nothing new.
Svenska Dagbladet reports that SVT identified 194 “high-risk clients”, of whom 90 could be linked to other money laundering scandals. One account holder, who purportedly handled transfers linked to the so-called Magnitsky case, was a client of SEB up until 2015.
SEB is currently the subject of a probe by Swedish and Baltic watchdogs but has declined to say whether the bank is also being investigated by US authorities.
Shares in SEB rallied 3.4% on Wednesday, recovering some of the ground lost when it emerged that it would be the subject of an SVT report.
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