Swedbank admits to shortcomings in anti-money laundering steps
STOCKHOLM - Swedbank admitted to previous shortcomings in combating money laundering on Thursday and said it was cooperating with investigating authorities, including in the United States.The Swedish bank, whose CEO and chairman have both left since money laundering allegations against it first surfaced in February, is the subject of a joint probe by financial watchdogs in Sweden and the Baltics.
Despite the publicity around the money laundering allegations, Swedbank’s first-quarter operating profit rose to 6.63 billion Swedish crowns and beat the 6.09 billion expected in a poll of analysts. Shortcomings included reports that certain customers matched against previously known money-laundering cases not being flagged, weaknesses in know-your-customer procedures as well as the absence of investigations and reports to the authorities on certain suspicious transactions, Karlsson added.
Swedbank said an in-depth investigation, led by law firm Clifford Chance, was underway to review its current and historic customer relationships through its Baltic subsidiaries, the bank’s response to previous internal reviews and its anti-money-laundering compliance processes.
Brasil Últimas Notícias, Brasil Manchetes
Similar News:Você também pode ler notícias semelhantes a esta que coletamos de outras fontes de notícias.
Deutsche Bank shares slip amid $20 billion Russian money-laundering allegationsShares in Deutsche Bank slipped nearly 2% on Thursday morning following reports the German bank could face legal action over a $20 billion Russian money-laundering scheme.
Consulte Mais informação »
Sudan's public prosecutor investigating Bashir on suspicion of money laundering: sourceSudan's public prosecutor has begun investigating ousted President Omar al-...
Consulte Mais informação »
Public prosecutor investigating Bashir on suspicion of money launderingSudan's public prosecutor has begun investigating ousted President Omar al Bashir on charges of money laundering and the possession of large sums of money without legal grounds - judicial source
Consulte Mais informação »
Admitted Russian agent Butina asks U.S. court to be lenientMaria Butina, who has admitted to working as a Russian agent to infiltrate an in...
Consulte Mais informação »
Russia says Mueller report “wasted” U.S. taxpayers' moneyThe Kremlin said that “in a similar situation our Audit Chamber would’ve certainly probed into what the taxpayers’ money has been wasted on,” but 'it’s up to the U.S. taxpayers to ask such questions.'
Consulte Mais informação »
Melinda Gates expresses frustration with anti-vaxxers as the US measles outbreak intensifies'You need to vaccinate your children. It saves lives,' says Melinda Gates, co-chair of the Bill and Melinda Gates Foundation.
Consulte Mais informação »
Florida House passes bill that forbids ‘sanctuary cities,’ would issue fines for failing to help federal immigration authoritiesFlorida House passes bill that forbids 'sanctuary cities,' would issue fines for failing to help federal immigration authorities
Consulte Mais informação »
Mom not cooperating with police amid search for 5-year-old boy: OfficialsMother of missing 5-year-old Andrew 'AJ' Freund is being 'uncooperative' with investigators, as the frantic search for the Illinois boy reaches a fifth day.
Consulte Mais informação »
House Democrats grapple with how to respond to Trump’s refusal to cooperate with investigationsThe president’s blanket resistance to allowing former and current aides to testify forces Democrats to consider multiple contempt citations and months-long civil litigation.
Consulte Mais informação »
New North American trade deal would boost U.S. economy, U.S. commission findsThe U.S. International Trade Commission estimated the proposed new North America...
Consulte Mais informação »
U.S. sanctions slashed more than $10 billion from Iran's oil revenue: U.S. officialU.S. sanctions against Iran have denied its government more than $10 billion in ...
Consulte Mais informação »