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Suspected money laundering in Swedbank
by johan

    For the past five months, Swedish television SVT has had access to a large quantity of classified documents detailing Danske Bank’s dealings with Swedbank. There were a large number of transactions between the banks’ clients between 2007 and 2015.

    The analysis reveals that 50 of Swedbank’s customers that show several risk indicators of suspected money laundering have funneled a total of USD 5.8 billion through the bank.

    “It’s a massive scandal. From what we’ve learned from SVT’s information, Swedbank’s accommodation of suspicious transactions comprised a significant part of the money laundering operations, in parity with Danske Bank,” says Louise Brown, corruption expert and chair of Transparency International’s Swedish chapter.