About: http://data.cimple.eu/news-article/60ff6954d844a9028acf16ffafcfabf977d5e83c9d99d63c4fab5493

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About: http://data.cimple.eu/news-article/60ff6954d844a9028acf16ffafcfabf977d5e83c9d99d63c4fab5493 Goto Sponge NotDistinct Permalink

An Entity of Type : schema:NewsArticle, within Data Space : data.cimple.eu associated with source document(s)

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rdf:type	schema:NewsArticle
schema:articleBody	Sweden's financial supervisory authority said Thursday it was fining Swedbank $385 million for failing to properly combat money laundering in its Estonian operations. "Swedbank AB has had serious deficiencies in its management of the risk of money laundering in its Baltic operations," Finansinspektionen (FI) said in statement. As a result, Swedbank was given a warning and a fine of four billion Swedish kronor (361 million euros). The decision came after parallel investigations by Swedish and Estonian financial authorities. "Despite several internal and external reports warning about deficiencies in the Baltic subsidiaries and the risk of money laundering, the bank did not take proper and sufficient action," FI said. A separate criminal investigation in Estonia would now determine "whether money laundering or other criminal acts have taken place". The fine is the latest turn in a scandal sparked by suspected money laundering through Baltic, and specifically Estonian, subsidiaries of several Scandinavian Banks. Danske Bank was the first to become ensnared in the scandal and its then chief executive Thomas Borgen resigned in September 2018 after the Danish lender admitted that a large part of transactions worth some $235 billion that had transited its Estonian branch between 2007 and 2015 were "suspicious". A Swedish documentary broadcast in February 2019 alleged that at least 40 billion kronor of suspicious transactions had been channelled to Baltic countries from Swedbank accounts. In the wake of the revelations, the bank sacked its CEO and its chairman resigned. Finnish bank Nordea and Sweden's SEB have also been implicated in the scandal. jll/jh
schema:headline	Swedbank fined $385 million over Baltic money laundering
schema:mentions	Danske Bank Nordea Estonia Finland Denmark Sweden Chief executive officer Danske Bank money laundering scandal Financial Supervisory Authority (Sweden) Thomas Borgen Swedbank Financial Supervisory Authority of Norway Swedish krona Baltic states JLL (company)
schema:author	http://data.cimple.eu/organization/1f0054d541e000623a2c1e561a247c073ef6328e8be9ffafda7b3fcd
schema:datePublished	2020-03-19 (xsd:date)
http://data.cimple...sPoliticalLeaning	other political leaning
http://data.cimple...logy#hasSentiment	negative sentiment
http://data.cimple...readability_score	85 (xsd:integer)
http://data.cimple...tology#hasEmotion	anger

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