An internal Swedbank report in September detailed 'suspicious' transac...
STOCKHOLM - An internal Swedbank report in September detailed “suspicious” transactions totaling around $10 billion between customers of Swedbank and Danske Bank in the Baltics from 2007 to 2015, Swedish state television SVT reported.
SVT said the report, which Reuters has not seen, showed a large number of suspicious clients had moved 3.2 billion euros and $6.7 billion between the two banks, more than double the number SVT had previously identified. “In the analysis last year, we looked at both current and former customers in the Baltic countries... In many cases, there was no need to act further, but in some cases we proceeded with, among other things, reports to the finance police,” she said.
“The report is one of several data that will be included in the joint investigation conducted by FI with the three Baltic regulatory authorities,” it said in a statement. “For more meaningful details we’ll need to wait for the findings of the FRA report pre-AGM and to see the scope of the Swedish FSA review,” said KBW analysts, who have a “market perform” rating and 200 crowns target price on Swedbank.
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